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‘Frozen’ Bitcoin linked to Canadian truckers in Ottawa

Blockchain research has revealed that the Bitcoin given to the ‘Freedom Convoy’ has been on the move, despite officials’ attempts to freeze the cash. According to CoinDesk, 20 BTC (about USD 788,000) donated to the Tallycoin fundraiser has been transferred, with only 0.11 BTC remaining.

According to the Crystal Blockchain analytics system, the majority of the 34 digital wallets listed by the Royal Canadian Mounted Police (RCMP) as involved with the fundraising on February 16 had been considerably drained, with only 6 BTC pooled between them.

An examination reveals that four minor portions of the roughly 20 Bitcoin raised – each worth around 0.14 BTC – ended up at two centralised exchanges, Coinbase and Crypto.com. A broader conclusion may be derived from this situation, which emphasises the limits of a government’s power to obstruct transactions on decentralised platforms, as well as the limitations of such systems’ ability to avoid such penalties.

The Ontario Superior Court of Justice issued a Mareva Injunction to Nunchuk, asking it to freeze and reveal information regarding the assets engaged in the Freedom Convoy 2022 campaign.

On February 16, a police order issued in Canada requested that all financial institutions permitted to do business in the nation stop allowing transactions for 34 protestor-affiliated wallets. It has been revealed that Ontario police officers have been named on a leaked list of donors to the ‘Freedom Convoy.’

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