US Government Signals Crypto Sale, Moving $219K in Seized Ethereum to Coinbase
The U.S. government is seemingly preparing to sell a batch of seized cryptocurrency, according to on-chain data that shows a $219,000 Ethereum transfer to an institutional exchange. The transaction is made all the more significant by its origin: a government wallet holding funds confiscated from the notorious NFT phishing scammer, Chase Senecal.
In Brief:
- Scammer’s Funds: On-chain data shows the U.S. government moving 86.5 ETH ($219K) seized from Chase Senecal, an NFT phisher also known as “Horror (HZ).”
- Original 2022 Seizure: The funds are part of a larger asset forfeiture from October 2022, which included a Bored Ape NFT, a Doodle NFT, and a luxury watch, investigated by on-chain analyst ZachXBT.
- Methodical Liquidation: The government first sent a $9.99 test transaction to a Coinbase Prime address before moving the main amount, signaling a planned sale of the assets.
- Long Lifecycle: This event highlights the long lifecycle of seized digital assets, from the crime and seizure in 2022 to the eventual liquidation process years later.
The event, tracked on the intelligence platform Arkham, unfolded in two distinct steps. First, a small test transaction of 0.00394 ETH (worth $9.99) was sent from the government wallet. Roughly 30 minutes later, after the path was confirmed to be secure, the main sum of 86.564 ETH followed. This methodical approach is standard operational procedure for avoiding errors with irreversible blockchain transfers.
The destination, a Coinbase Prime deposit address, makes the government’s intention clear. As Coinbase’s institutional arm, it provides the regulated platform necessary for government agencies to liquidate forfeited assets into U.S. dollars.
Context: The Origin of the U.S. Government Seized Funds
The wallet’s label, “Chase AKA HZ Seized Funds,” directly connects this liquidation to a high-profile case from the peak of the NFT boom. Chase Senecal, who operated under the alias “Horror (HZ),” was a scammer who targeted users in prominent NFT communities. An FBI investigation, aided by research from renowned on-chain analyst ZachXBT, led to a major asset seizure from Senecal in October 2022.
Those forfeited assets included high-value NFTs like Bored Ape #9658 and Doodle #3114, alongside an Audemars Piguet watch. The 86.5 ETH currently being moved for sale is the cryptocurrency component of that same 2022 seizure.
The Final Step in the Forfeiture Process
This transfer marks the final chapter for this specific batch of illicitly gained assets. After being held for years as the legal case proceeded, the funds are now set to be sold, with the proceeds likely to be deposited into the Treasury Forfeiture Fund. This fund is used to support various law enforcement programs and initiatives.
For market watchers, the event is a tangible example of the complete lifecycle of crypto-related justice. It showcases law enforcement’s ability not only to track and seize digital assets from criminals but also to professionally manage and liquidate them through established, compliant channels years after the initial crime took place.
strongest thc gummies online for maximum potency effects
Betipix365, I’ve seen worse. Seems like a decent enough place to place a small bet. The layout is a bit clunky, but the odds are fairly standard. Check it out: betipix365.
That’s a great point about team dynamics! Seeing tools like the AI Text To Video Generator really highlights how quickly content creation is evolving – accessible on any device, it’s wild! Makes strategy even more crucial.
Hey all! 5699vin is on my radar now. Seems like a good place to unwind! Check it out and see what you think! Here’s the link with benefits: 5699vin
Gamdomabet’s a cool site. They’ve got some interesting games I haven’t seen anywhere else. The community seems pretty active too. Give it a try, might find something you like. Check it out: gamdomabet
Royallyrummybet? Yeah, I tried it out. If you are from India and enjoy Rummy then you might like this service. Good support and quick response! royallyrummybet
Reddybookbet… okay, another one to test out. Seemed straightforward, nothing overly complicated, and the betting options looked solid. If you’re exploring options, take a peep: reddybookbet.
Hey everyone! Just checked out alo789topvn. Seems pretty legit, decent selection. Might be worth a look if you’re hunting for something new. Check it out for yourselves alo789topvn!
Spinbet99vn – the name sounds fun! I’m always looking for new places to try my luck. Are the payouts good? 🤔 If so, I’m in! spinbet99vn
Alright, so I stumbled upon ph7777 the other day. Pretty smooth interface and decent game selection. Could be my new go-to spot ph7777.
Getting logged in to PHJL is super easy. Had no issues at all. That’s always a good sign! Go give it a try phjllogin
Just downloaded the Taya777 APK. Installation was a breeze. Hope the games are as smooth as the download! You should also try taya777 download apk
Esportivasbet… Hmm. Seems like they’re mostly focused on sports, which is cool if that’s your thing. I dabble a bit myself. They update the odds pretty quickly. Worth a look at esportivasbet
Hm88comvn is alright in my book. They’ve got most of the big leagues covered. Depositing and withdrawing was straightforward. Its worth a look at hm88comvn
Kkkjiliapp is still quite new to me. I gave it a spin last week, and so far so good. The app interface is straightforward and responsive. Why not give it ago at kkkjiliapp
PlusAce is my new favorite spot! Great bonuses and a really cool interface. Been on a hot streak lately, so I’m definitely sticking around. Head to plusace now.
QueenPH is pretty sweet. The graphics are top-notch and the gameplay is smooth. Been recommending it to all my buddies. Give it a shot! Find it here queenph.
UUJLLogin – quick and easy to log in, plus a huge variety of games to choose from. No complaints here! Check it out uujllogin.
Been messing around on Bete Esporte.com lately! So far, so good! The interface is smooth and the odds seem fair. Definitely worth a shot! More info: bete esporte.com
GTaya, I gotta say, you’ve been treating me right lately! The payouts are quick and the games are fun. Definitely worth checking out. Give gtaya a shot!
Newjilicom, you’re a lifesaver! Always a solid experience. I spend a lot of time there, and it’s usually pretty cool. Why not take a look at newjilicom?