Coinfirm discovered that several Bitcoin forks have apparently been ignored by the US government, among the examples are the forks: Bitcoin Diamond (BCD), Super Bitcoin (SBTC) and Bitcoin Private (BTCP).
U.S. authorities have lost approximately $400,000 in Bitcoin forks in various wallets confiscated from criminals over the years. The report was released by the cryptomorphic analysis company Coinfirm.
The „lost“ values are composed of Bitcoin forks, i.e., Bitcoin-derived cryptomaps, such as Bitcoin Cash (BCH), and Bitcoin Satoshi Vision (BTCSV).
Over the years several people have cloned the Bitcoin blockchain to create new coins, so Bitcoin holders (before cloning) can sell the cloned coins.
Coinfirm has identified that most of the funds „forgotten“ by US authorities are from the confiscated portfolios of Silk Road (black market closed in 2013). The FBI announced that it confiscated $1 billion of the wallet last month, but no information on the derived coins was provided.
„Although the Justice Department has received praise for securing an individual’s large assets, the story doesn’t end there,“ he said, „Coinfirm has identified millions of dollars in assets that the Justice Department apparently left behind and to which the individual can still have access.
Coinfirm discovered that several Bitcoin forks have apparently been ignored by the U.S. government, examples of which include the Bitcoin Diamond (BCD), Super Bitcoin (SBTC) and Bitcoin Private (BTCP) forks.
To know if an old portfolio has funds in forks, just access the block explorer of the new currency and check the balance and movements.
Coinfirm estimates that the value of the portfolios adding all hardforks can reach $ 400,000. They are 693,701 BCD ($ 310,000), 69,370 SBTC ($ 66,000), and 69,370 BTCP (11,000).
The current holder of the portfolios and private keys may have access to the funds.
Coinfirm has helped authorities identify funds that were left to criminals. The company is one of the world leaders in tracking and tracing digital assets.
The company has found funds in 3 currencies, but currently there are at least 105 Bitcoin hardforks active. Most reach zero value with a short lifespan, but some projects manage to hold on for a while.
It is likely that the value that the U.S. government is leaving to confiscate is much higher than $ 400,000, since as reported by Livecoins, at least another 20 forks are traded above $ 100.