According to Foresight News, the US government has confiscated approximately 3940 BTC, valued at $250 million, from drug dealer Banmeet Singh. The seizure took place during a trial in January 2024. The government's action against Singh is part of its ongoing efforts to crack down on illegal activities involving cryptocurrencies. The seized BTC will likely be auctioned off by the government, as is the standard procedure in such cases. This case underscores the risks involved in using cryptocurrencies for illicit activities, as law enforcement agencies worldwide are stepping up their efforts to monitor and regulate the use of digital currencies.