US Authorities Hold 200,000 Bitcoins

In recent years, the US authorities have seized over 200,000 bitcoins from illegal activities.

This cryptocurrency was primarily collected from the darknet and is currently held in offline wallets owned by agencies such as the Internal Revenue Service (IRS), Department of Justice, and the Federal Bureau of Investigation (FBI).

In the span of five months from March to July 2023, the FBI seized $1.7 million, with $147,000 in Bitcoin.

These confiscated funds are kept in wallets and can only be sold with court approval, with the proceeds going towards the US Treasury.

The Bailiff Service is responsible for selling the seized digital currency, as seen in March when it sold 9,861 BTC on Coinbase.

According to data from Dune Analytics, since 2020, US law enforcement agencies have confiscated at least 215,000 BTC from criminals and hackers.