Bitcoin Seized From Samourai Wallet Has Not Been Sold, White House Says

Washington D.C. sources confirmed that the significant amount of Bitcoin seized following the indictment of Samourai Wallet’s co-founders remains securely held in government custody and has not been liquidated. The clarification comes amid intense speculation within the cryptocurrency community regarding the potential market impact of a large-scale government asset dump.

Samourai Wallet co-founders, Keonne Rodriguez and William Lonergan Hill, were recently arrested and charged with conspiracy to commit money laundering and operating an unlicensed money transmitting business. The Department of Justice (DOJ) alleges that Samourai’s privacy-enhancing services, particularly its ‘Whirlpool’ mixer, facilitated transactions exceeding $100 million derived from dark net markets and other illegal sources.

Following the arrests, authorities seized substantial assets, including a large stash of Bitcoin allegedly derived from or used in the commission of the crimes. A spokesperson, echoing White House assurances on asset management, emphasized that these seized digital assets are being held pursuant to standard judicial forfeiture procedures. Government protocols dictate that such assets cannot be sold until a final forfeiture order is issued by the courts, a process that typically spans many months. This pause on liquidation is intended to maintain market stability while the complex legal proceedings against the defendants move forward.

Source: Bitcoin Seized From Samourai Wallet Has Not Been Sold, White House Says