U.S. Government wallet moves 40.000 BTC, Coinbase blocked Binance transactions and deadline for Mt. Gox Creditors

2 min readMar 9, 2023
Photo by Kanchanara on Unsplash

Wallets associated with U.S. government transfer 40,000 BTC

Wallets associated with the government of the United States transferred around 40,000 bitcoin, a majority of which are internal transfers. Among the total amount of Bitcoin transferred, which is worth more than $2 billion, a definite quantity of coins was moved to the leading crypto exchange Coinbase.

Notably, the leading on-chain data provider Glassnode shared on Twitter that almost 40k BTC from the wallets “associated with US government law enforcement seizures are the move.”

In addition, the platform pointed out that approximately 9,861 BTC “seized from the Silk Road hacker” have been sent to Coinbase cluster. It is to be noted that the Silk Road was a notorious black market that was closed by the Federal Bureau of Investigation (FBI) in 2013.

Source: Coinedition

Mt. Gox creditors have until Friday to file repayment claims

Nobuaki Kobayashi, the Rehabilitation Trustee for collapsed Japanese Bitcoin exchange Mt. Gox, told former customers that they have until Friday to register their claims for repayment under the rehabilitation plan, which he first announced last September.

The original deadline of January 10 was extended by two months back in January.

Creditors have the option to receive repayment as a lump sum, as a cryptocurrency repayment, bank remittance, or remittance through a money transfer service.

Source: Decrypt

Coinbase users face technical issues when transferring bitcoin from Binance

A Coinbase technical issue led to certain transfers of bitcoin from Binance being blocked.

Users on Reddit and Twitter were reporting late Tuesday that attempts to transfer bitcoin from Binance to Coinbase were being met with an Office of Foreign Assets Control (OFAC) notice that said their transfer was being blocked because it was coming from an “OFAC sanctioned address.”

A spokesperson for Coinbase acknowledged that this was a technical issue that impacted fewer than 100 people, and has been fixed. Coinbase sent affected users an email saying the deposit

OFAC maintains a lengthy list of crypto wallets and protocols that have been classified as “specifically designated nationals” and sanctioned, meaning that U.S.-based entities are not allowed to interact with them.

Source: CoinDesk

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