Why forfeiture Is Trending Today?

The U.S. Department of Justice (DOJ) has announced a significant Bitcoin forfeiture, while Bitcoin hovers near $111,000. Meanwhile, Core v30 has been released, and a Lightning Network pilot project is underway.

A wallet linked to the LuBian group moved approximately $1.3 billion in Bitcoin following the U.S. Department of Justice's announcement of a record-breaking $15 billion cryptocurrency forfeiture case. This significant transaction occurred after the DOJ revealed its largest-ever crypto forfeiture, which is connected to a series of 'pig butchering' scams originating from Cambodia. The U.S. government stands to potentially add $14 billion to its crypto reserves as part of this forfeiture case, highlighting the evolving role of cryptocurrencies in U.S. law enforcement and financial strategies.

The U.S. government has recently conducted the largest-ever forfeiture action, seizing over $15 billion in Bitcoin. This significant move is part of an effort to boost the country's strategic crypto reserves. The seized Bitcoin is linked to a global fraud ring, specifically a type of scam known as "pig butchering." The Department of Justice (DOJ) is seeking to add $14 billion of this Bitcoin to the U.S. government's crypto reserves, with the total value of the seized cryptocurrency amounting to $36 billion.