Recently, a significant financial operation took place in the cryptocurrency world. According to data from Arkham Intelligence, a wallet linked to the US government transferred 86.5 ETH to the Coinbase Prime platform.
Transfers and Their Details
The transfer of ETH was executed in two separate transactions. The first was worth 0.00394 ETH (about $10), while the second transaction amounted to 86,564 ETH. The source of these funds was identified as the wallet belonging to Chase Senecal.
Overview of Chase Senecal
Chase Senecal, also known by the pseudonym HZ, gained notoriety in the crypto community as a scammer specializing in phishing attacks and NFT thefts. Under his leadership, hundreds of thousands of dollars in digital assets were stolen. As a result of an investigation in 2022, the FBI seized items from Senecal, including an Apple Watch, luxury items, and crypto assets.
Government Cryptocurrency Policy
After Donald Trump took office as President of the United States, a practice was initiated whereby the US government would not sell cryptocurrencies, including Bitcoin. It is currently unclear whether this transfer was part of a sale.
The situation surrounding the transfer of 86.5 ETH raises questions about the management of cryptocurrencies in the US and casts doubt on the government’s stated intentions not to sell crypto assets.
