Key TakeawaysKey Takeaways

• A contractor’s son allegedly stole more than $40 million from U.S. government–seized crypto wallets, according to blockchain investigator ZachXBT.
• The theft appears tied to insider access at a firm hired by the U.S. Marshals Service to manage seized digital assets.
• The case raises serious questions about how securely the U.S. government stores billions of dollars worth of confiscated Bitcoin.

For years, the U.S. government has quietly become one of the world’s largest holders of Bitcoin. It has amassed billions of dollars’ worth of seized crypto from cases like Silk Road and the Bitfinex hack.

That strategy now faces uncomfortable scrutiny after allegations surfaced that millions of dollars were siphoned from government coffers—not by hackers, but by insiders within the custody system itself.

According to blockchain investigator ZachXBT, the son of a contractor working with the U.S. Marshals Service (USMS) allegedly stole more than $40 million in digital assets from wallets holding seized government crypto.

The revelations have sent shockwaves through both the crypto industry and law enforcement circles. It has exposed what may be deep vulnerabilities in how the U.S. safeguards its digital holdings.

*...read more at ccn.com