US Government Moves Seized FTX/Alameda Crypto Assets Worth $20 Million

OnchainLens data shows over $6M in Wrapped Ethereum and $13M in Binance USD transferred to a new wallet from confiscated funds.

WETH
BUSD

Summary

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Terms & Concepts
  • Wrapped Ethereum (WETH): A token representing Ethereum on the Ethereum blockchain, used for compatibility with ERC-20 smart contracts.
  • Binance USD (BUSD): A U.S. dollar-pegged stablecoin issued by Binance and Paxos, designed to provide price stability in crypto transactions.
  • Seized Funds: Cryptocurrency or fiat assets taken into custody by authorities, typically linked to legal actions or investigations.