Popular crypto custody service BitGo has just announced it has won a contract with the United States Marshals Service (USMS) under which the company will help US authorities store and sell confiscated cryptos.
According to the official documentation released by the USMS, BitGo will receive around $4.5 million for its services.
The US Marshals Service was looking for a provider that could handle crypto forks, airdrops as well as wallet management. As part of the agreement, BitGo will handle all these processes and provide advice to the crypto asset confiscation process.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
It should be noted the duration of the contract has not been disclosed. However, for the duration of this, BitGo will assist the agency in all aspects related to cryptos that the agency seizes as a result of criminal investigations.
As a general rule, the US Marshals Service usually auctions off seized assets. Thus, in February last year the USMS auctioned more than 4,000 BTC.