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Coinbase, Samsung Alliance Deepens: Galaxy Wallet To Allow Direct Crypto Purchase

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Consumer electronics giant Samsung has broadened its partnership with cryptocurrency exchange Coinbase, enabling Galaxy smartphone users to purchase crypto directly to their wallets.

Coinbase Integrates Samsung Pay On Platform

On Friday, October 3, US-based cryptocurrency exchange Coinbase announced the expansion of its partnership with Samsung. This renewed collaboration will grant Galaxy smartphone users in the United States direct access to crypto through its Coinbase One program.

According to the exchange’s website, Coinbase One is a membership program for crypto users, offering zero trading fees, boosted staking rewards, priority support, exclusive partner deals, and account protection for lost fund restoration due to unauthorized third-party access.

Additionally, this partnership expansion includes the integration of Samsung Pay on the crypto trading platform. The announcement revealed that this will allow Samsung Galaxy smartphone users to interact with cryptocurrencies and other blockchain services.

Coinbase’s Chief Business Officer Shan Aggarwal said in a statement:

Together with Samsung, we’re pairing their global scale with Coinbase’s trusted platform to deliver the best value for people to access crypto — starting with more than 75 million of Galaxy users across the U.S., and soon around the world.

The growing partnership between Coinbase, the largest cryptocurrency exchange in the United States, and Samsung is a hallmark sign of the ongoing shift in the US crypto landscape. Following the election of President Donald Trump in November 2024, the improved regulatory clarity has afforded crypto companies the freedom to push for further expansion.

Coinbase Revenue To Improve In Q3 2025?

The improving crypto climate in the US has not particularly translated to increased revenue growth for Coinbase. According to the shareholder report released in August, the crypto exchange recorded a revenue growth of just 3% in the year’s second quarter, its lowest in recent years.

These revenue growth numbers were not only low by the company’s standards but also lagged behind industry performance. For instance, Kraken registered an 18% jump in crypto revenues, while Robinhood posted almost a 100% increase.

Investors will be looking forward to the revenue report of the recently concluded third quarter, as it is likely to impact the crypto company’s shares. Coinbase shares (with the ticker COIN) witnessed a sharp drop in value following the release of the second-quarter revenue report.

As of this writing, COIN is trading at around 380.02, reflecting an over 2% jump in the past 24 hours. According to recent market data, the stock’s value has increased by more than 53% year-to-date.

The price of COIN on the daily timeframe | Source: COIN chart on TradingView

Featured image from iStock, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Samsung Brings Coinbase Access to 75M Wallet Users in Latest Crypto Embrace

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In brief

  • Samsung has integrated Coinbase access within its wallet app in the United States.
  • The feature lets Samsung device owners more easily purchase cryptocurrency from their phones.
  • Samsung has been immersed in crypto for years via phone integrations, investments, and enterprise blockchain moves.

Tech giant Samsung has expanded its collaboration with crypto exchange Coinbase to offer its 75 million U.S. Galaxy device owners easier cryptocurrency access through Samsung Wallet and Samsung Pay.

First announced in July, the team-up now allows Coinbase users to purchase cryptocurrency directly within the app using Samsung Pay, streamlining investment management on its secure platform.

Samsung Wallet users receive exclusive benefits as part of the collab, including a free 3-month Coinbase One subscription. This premium membership offers zero trading fees on select assets, enhanced staking rewards, and partner offers. New traders also receive a $25 credit after their first Coinbase transaction.



“Samsung Wallet is a trusted tool to millions of Galaxy users, and we’re continually working to find creative ways to enhance the experience with added functionality,” said Drew Blackard, senior VP of mobile product management at Samsung, in a statement. “Coinbase is a leader in the industry, which made them the ideal partner to provide our users with seamless access to crypto.”

The companies suggested further international expansion to come in the months ahead.

Coinbase’s stock is up more than 1% on the day to a price of about $376 per share following the news, boosting its weekly spike to 20%. Crypto stocks are broadly up over the last week alongside rising asset prices, with Bitcoin topping a price of $121,000 on Thursday for the first time since mid-August.

Samsung has long embraced cryptocurrency and blockchain, making numerous investments in the industry while integrating crypto wallet and trading functionality on its devices for years.

The company first added crypto support to its phones in 2019 through its Knox secure enclave, later expanding asset support and enabling the use of hardware wallets with phones. The company also offered NFTs as pre-order bonuses for the Galaxy S22 phones. For a time, Samsung also operated an enterprise blockchain platform called Nexledger.

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Robo.ai turns smart cars into economic actors with built-in digital wallet
Crypto Trends

Robo.ai turns smart cars into economic actors with built-in digital wallet

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Robo.ai has unveiled a prototype where a vehicle’s unique VIN forms the core of its compliant digital wallet, merging the car’s legal identity with its new capacity for economic activity.

Summary

  • Robo.ai and Changer.ae unveiled Roboy339, a smart car with a regulated digital wallet tied to its VIN.
  • The prototype enables autonomous payments for tolls, charging, maintenance, and leasing.
  • Backed by $300 million funding, the project aims to scale the model to aircraft, taxis, and logistics vehicles, forming a machine-driven digital economy.

In a press release dated Oct. 3, Robo.ai Inc. and Abu Dhabi-based custodian Changer.ae announced the joint unveiling of “Roboy339,” a smart vehicle prototype, at the TOKEN2049 event.

The demonstration marks the first public showcase of a car equipped with its own natively integrated, regulated digital wallet, a project born from a strategic partnership forged between the two firms this past August.

From prototype to blueprint for the machine economy

The Roboy339 prototype is designed to function as a self-sufficient financial entity. Its compliant digital wallet, secured by Changer.ae’s ADGM-regulated custody, enables the vehicle to conduct autonomous, real-time micropayments for essential services, according to the press release.

This includes settling tolls, paying for charging sessions, financing its own maintenance, and even processing lease payments. The system also allows the vehicle to receive authorized income, creating a closed-loop economy where the asset can theoretically earn revenue to offset its own operational costs.

Per the statement, the broader ambition is to extend this framework beyond a single prototype. Robo.ai and Changer.ae plan to connect other devices such as eVTOL aircraft, autonomous taxis, and unmanned logistics vehicles to the same ecosystem. The goal is to create a foundation where machines act as economic agents, carrying their own digital identities and participating in financial markets at scale.

“The era of autonomous economics for intelligent devices is upon us. The name Roboy339 is derived from the last three digits of its unique VIN number — it is not only its bank account but also its digital ID. With the support of investors, partners, manufacturers, financial institutions, and regulators, Robo.ai stands at the intersection of the ‘machine economy’ and the ‘digital economy’,” Robo.ai CEO Benjamin Zhai said.

This ambitious vision is backed by significant capital. The development follows Robo.ai’s recent announcement that it secured approximately $300 million in strategic investment from U.S. firm Burkhan Capital LLC.



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Best Time to Try Best Wallet
Crypto Trends

Best Time to Try Best Wallet

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Stablecoins are rapidly becoming one of the dominant use cases linking crypto and tradfi.

Recent forecasts, institutional moves, and regulatory efforts suggest the sector is reaching an inflection point. And now, at least one analysis believes the stablecoin market cap alone could reach $4 trillion by 2030.

That’s twice the current size of the entire crypto economy in stablecoins alone.

Forecasting a Stablecoin Boom

That projection originates from Citi, whose analysts now estimate a base case of $1.9 trillion in stablecoin issuance by 2030, up from earlier forecasts. In a bullish scenario, the bank predicts issuance reaching $4 trillion.

If stablecoins were to be integrated everywhere, the analysts suggest they could support as much as $100T of annual transaction volume, a scale dwarfing today’s markets.

Citi tempers its optimism with caution. Many firms remain hesitant to adopt stablecoins in core operations, treating them as experimental tools rather than foundational infrastructure. In many domestic markets, conventional payment systems already operate at low cost and in near real time. Still, as legislation finally catches up, stablecoin utility has steadily grown.

The biggest real opportunity is in cross-border settlement, where inefficiencies still exist. Even so, Citi highlights that tokenized bank deposits may surpass stablecoins in usage by 2030.

Bank tokens are tokenized deposits, deposit tokens, and other bank-issued tokenized assets. They provide the trust, familiarity, and regulatory safeguards of bank money, and many corporations prefer them over stablecoins.

The final takeaway from the report highlights just how big the market could be. Still, just how much growth remains – even in a bullish case of $100T in payments annually, stablecoins would be a small percentage of the $5T-$10T leading banks send and receive daily.

The current stablecoin market grew from around $200B in early 2025 to nearly $280B, despite experiencing significant market swings. Governments and regulators are actively discussing how to regulate the issuance, backing, and redemption of these asset instruments.

Beyond market risk, stablecoins carry macro and geopolitical stakes.

If dollar-pegged stablecoins maintain dominance, capital flows and payments globally may increasingly favor U.S. influence.

The more stablecoins proliferate, the more issuers will likely hold U.S. Treasuries as reserve backing.

This creates a strategic vulnerability for Europe: a foreign digital currency could undermine domestic monetary control.

Europe’s Move: Consortium for a Euro-Backed Stablecoin

In response, nine European banks — including UniCredit, ING, CaixaBank, SEB, and Raiffeisen — have teamed up to launch a euro-denominated stablecoin, aiming for a debut in late 2026.

Incorporated in the Netherlands, the initiative will operate under a regulated license framework, with room for additional participants.

The goal is more than technological innovation; it is part of a broader strategy for European payment sovereignty in the midst of concerns over a growing US stablecoin lead.

The stablecoin project aligns with the enforcement of the EU’s MiCA regulation and complements efforts by the European Central Bank to push forward a digital euro.

There’s a bit of urgency to the project – the dominance of U.S. dollar tokens could erode monetary control and expose Europe to external leverage. U.S. stablecoin incumbents like Tether ($USDT) and Circle ($USDC) already command massive network effects and liquidity.

For the European project to succeed, it must overcome regulatory barriers, build trust, and provide liquidity – and fast.

Best Wallet Token ($BEST) – The Best Non-Custodial Wallet for Stablecoins and Crypto Presales

Best Wallet Token ($BEST) is the latest offering in a growing, powerful Best Wallet ecosystem. At the core, there’s a non-custodial Web3 wallet where users can safely store, swap, and send their tokens.

Next comes the $BEST utility token. With $BEST, investors get lower transaction fees and higher staking yields. There’s also access to the best crypto presales, where investors can find a curated selection of upcoming projects. Research and purchase tokens directly within the app.

What is Best Wallet token? It’s the key to powering up a vibrant wallet-based suite of tools. The upcoming Best Card will make it even easier to spend your crypto. In the meantime, learn how to buy $BEST and see why our price prediction thinks the token could reach $0.72,

Visit the Best Wallet token presale page for the latest information.

The coming years may well decide whether stablecoins become pillars of a hybrid financial future or remain niche infrastructure. Citi’s forecasts hint at the scale and ambition of stablecoins, and Best Wallet gives investors the tools they need to navigate a stablecoin future.

Authored by Bogdan Patru on Bitcoinist — https://bitcoinist.com/stablecoins-$4-trillion-by-2030-best-time-to-try-best-wallet

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Coinbase’s Super App Vision: Why Best Wallet Token ($BEST) Could Be the Real Winner
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Why Best Wallet Token ($BEST) Could Be the Real Winner

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The last few months have been overarchingly bullish for the crypto market, not just from a raw price gain perspective, but also because of the fundamental changes taking place under the new pro-crypto Trump administration.

This has sparked a wave of growth initiatives among crypto companies, who are now more clear-headed than ever in their ambition to create a better, well-oiled crypto infrastructure.

The latest example is Coinbase CEO Brian Armstrong confirming in a recent interview that the company intends to soon offer a full-fledged crypto super app, combining financial services like payments, credit cards, and rewards – but built entirely on crypto.

‘Yes, we do want to become a super app and provide all types of financial services,’ Armstrong said in the interview.

Keep reading to find out what this could mean for the broader crypto market, how Coinbase is quickly becoming one of the most talked-about companies in the space, and how you can ride this new innovation tailwind with Best Wallet Token ($BEST).

Coinbase’s Super App Vision Gains Momentum with Pro-Crypto Shift

The basis of this discussion was the bottlenecks of the current banking system and just how outdated and inefficient they are.

Armstrong pointed out the high transaction fees still prevalent in the traditional market, saying it’s simply baffling that users have to pay 2-3% every time they swipe their credit card when, in reality, it’s just bits of data flowing over the internet. ‘It should be free or close to it,’ he said.

Although Armstrong didn’t reveal the full set of features of  super crypto app, he did mention a credit card with 4% Bitcoin rewards, citing the company’s mission to become a full-fledged bank replacement for people.

As mentioned earlier, the recent pro-crypto shift by the U.S. government, including moves by the SEC, has been a major push forward for companies like Coinbase.

Armstrong seconded that, specifically referencing the GENIUS Act, which offers regulatory clarity for companies such as Coinbase.

He explained that this effectively removes a long-standing obstacle: the constant uncertainty over whether their services might be banned or rejected at any moment.

Best Wallet and $BEST: A Super App Opportunity for Early Investors

Speaking of crypto super apps, it’s worth checking out Best Wallet – a new free crypto wallet offering a unique combination of rock-solid security and class-leading ease of use.

Experts believe it could be the next big breakout winner, and for good reason.

While the much-talked-about Coinbase app still has a long way to go before launch, Best Wallet is already here, refining the crypto experience as we speak.

Most importantly from an investor’s perspective, you can’t directly participate in Coinbase’s crypto endeavours. Sure, you can buy the company’s stock ($COIN), but won’t deliver the kind of returns a successful crypto project could.

This is why Best Wallet’s native cryptocurrency, Best Wallet Token ($BEST), is arguably the best crypto to buy now if you’re looking to ride the growth of a utility-driven project.

Understanding Best Wallet’s Appeal

For starters, Best Wallet offers one of the most secure wallet experiences on the market.

  • It’s a non-custodial crypto wallet, so no one but you gets access to your private keys, ensuring foolproof privacy.
  • The app offers a slew of two-factor authentication options, including biometric login.
  • Best Wallet also comes packed with safeguards against hacks, scams, and phishing sites.

Even better, there’s an internal Best Wallet team that verifies the legitimacy of every single token before listing it on their app.

Speaking of which, Best Wallet is the ONLY wallet right now that lets you buy the best crypto presales and new meme coins in presale directly within the app.

The ‘traditional’ wallet experience involves visiting the external presale website, connecting your wallet, and then heading back to authorize the transaction.

Meanwhile, if you’re a Best Wallet user, you can buy the best altcoins in just a few clicks, without having to exit the app’s secure environment.

What’s more, you also have the liberty to create multiple Ethereum wallets, allowing you to better organize your crypto portfolio – one wallet for long-term holding, another for staking, and yet another for active trading.

Buying $BEST Unlocks Serious Perks

Of course, the most obvious and biggest benefit of buying Best Wallet Token ($BEST) is that it lets you ride the project’s growth.

After all, Best Wallet is on its way to capture 40% of the entire non-custodial crypto wallet market by 2027.

According to our $BEST price prediction, the token could hit $0.62 by the end of 2026, representing a whopping 2,300% ROI from the current token price.

In plain English, this means if you invest $100 today, it could potentially turn into $2,400 in just a little over 12 months.

That said, buying $BEST also unlocks an entirely new tier of platform-based benefits, including:

  • Reduced transaction and gas fees
  • Voting rights on key platform decisions
  • Exclusive early access to presales and new projects before they hit the market
  • Staking rewards, currently yielding 83% per year

Best Wallet Token is in presale right now, with already over $16M raised from early investors.

1 $BEST is priced at just $0.025675, and you can check out our step-by-step guide on how to buy $BEST for any help with the purchase process.

Visit Best Wallet Token’s official website to learn more about its top-notch security and usability.

Disclaimer: None of the above constitutes financial advice. The crypto market is highly volatile and risky, so kindly do your own research before investing.

Authored by Krishi Chowdhary, Bitcoinist — https://bitcoinist.com/coinbase-super-app-vision-why-best-wallet-token-could-surge

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Crypto Thieves Target Smartphone Users For Digital Wallet Access
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Crypto Thieves Target Smartphone Users for Digital Wallet Access

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Despite increasing regulations, London is emerging as a hotspot for crypto-related crimes. In a recent incident, a 42-year-old man, Christian D’Ippolito, had nearly £40,000 worth of crypto assets stolen. 

According to a report by The Financial Times, Christian became a victim of a crypto theft earlier this month. While heading home after a night out near Old Street roundabout, his mobile device was snatched by four men. Over the next few hours, his crypto wallet was emptied of nearly £40,000 worth of assets.

This isn’t a lone case. The London Metropolitan Police say that there is a surge in cases where smartphones of crypto asset holders were stolen in street encounters, notably in areas around Old Street roundabout and Brixton. This allows thieves to access their cryptocurrency wallets and drain tens of thousands of pounds of crypto assets. 

Young Adults are the Primary Prey

With increasing popularity of cryptocurrency, theft incidents are also surging in the UK. Financial Times notes that one in four people aged 18 to 34 own crypto in the country, in which men are most likely to be so. 

The modus operandi of these thieves target young men returning from social events in the evenings. They then engage them in informal talks before snatching their phones. They swiftly move money by getting around security measures, occasionally resetting Apple IDs or taking advantage of cryptocurrency apps.

“They seemed pretty friendly, we were just talking. One of them asked me to take his number for the future. I logged in. At that point, they just grabbed my phone,” said Neil Kotak, another victim who had lost £10,000 in a similar phone snatching incident. 

Smartphone dependency increases vulnerabilities.

The combination of smartphone dependency and the growing popularity of crypto has created new vulnerabilities. An unlocked phone can expose emails, passwords, two-factor authentication (2FA) codes, and even photos of passports, giving thieves full access to victims’ digital assets. 

Even though most crypto transactions are traceable, most thieves are able to get away with the thefts. The police in the UK lack the capacity or the specialist knowledge to follow stolen crypto. 

Only a small percentage of reported fraud, according to Pounder, the former Met and City of London police officer, receives action. In his recent work, Pounder reports 20 thefts to Action Fraud, the police’s specialist fraud unit, and provides supporting evidence. Though the police proceeded with none of the cases. 

Also Read: BitGo Discloses its Financials in Latest SEC Filing Ahead of IPO



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Trust Wallet Token Price Surges 30% To $1.26 Following Cz X Post
Crypto Trends

Trust Wallet Token Price Surges 30% to $1.26 Following CZ X Post

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Trust Wallet Token (TWT) exploded nearly 30% in the past 24 hours, surging to $1.26 before slipping back near $1.16. The sudden rally was widely linked to Binance founder Changpeng “CZ” Zhao’s latest X post, but technical charts show the move was already set in motion before social media hype kicked in.

On the 2-day chart, TWT had been forming an inverse head-and-shoulders pattern. a classic bullish setup. Once the breakout triggered, prices rushed again toward the projected target of $1.17. CZ’s quote X helped accelerate the push, but once the target was met, traders quickly booked profits.

CZ wrote on X, “TWT token started as an experiment. The FDV got too high quickly. They burned 99% of the supply, but didn’t have too many use cases for it. Now that’s expanding.” His post fueled attention, but the breakout was already primed technically.

Profit-Taking Wave Signals Caution

After the spike, profit-taking hit hard. Exchange net flows flipped from 177,980 TWT on September 17 to +2.84 million just two days later, a massive 1,600% jump. This shows holders rushed to send tokens onto exchanges to lock in gains.

Whales too participated in the sell-off. Wallets holding 10 million–100 million TWT trimmed their holdings by over $8 million in September, adding to selling pressure.

Can TWT Hold $1.00?

Despite the short-term excitement there, the long-term indicators are wary. Since late 2024, TWT has shown hidden bearish divergence, suggesting momentum isn’t strong enough to break its broader downtrend. 

Key support sits at $1.00, then $0.84 and $0.71. On the upside, only a daily close above $1.42 and ideally $1.63 could shift sentiment bullish again. For now, the rally looks like a breakout target achieved and followed by heavy profit-taking, not yet a sustainable trend.

Also Read: BNB Jumps as Changpeng Zhao Hints at Binance Comeback



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Critical Chrome Exploit Could Drain Your Crypto, CTO of French Hardware Wallet Giant Warns
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Critical Chrome Exploit Could Drain Your Crypto, CTO of French Hardware Wallet Giant Warns

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Charles Guillemet, chief technology officer at Ledger, has issued a security warning about a major Chrome vulnerability that could potentially allow hackers to drain one’s crypto wallet. 

The “Type Confusion” bug, which was recently discovered by security researchers, makes it possible for bad actors to run malicious code by treating one type of data as another. It has been found within V8, the engine that executes JavaScript and WebAssembly. 

Simply visiting a malicious website could make it possible for attackers to steal highly sensitive data, including private keys, seed phrases, or wallet files.

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Hence, Guillemet is not recommending storing any sensitive data locally. 

Google’s urgent response 

Within just 48 hours of the critical vulnerability being detected, Google swiftly moved to publish an emergency update. Chrome users have to make sure that they are using the fixed version (140.0.7339.185). 

It is worth noting that all Chromium-based web browsers have been affected, including Brave, Opera, and Vivaldi. 



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Crypto Hacks Surge: $19M In Ethereum Grab by Infamous Wallet Raises Alarming Questions

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A crypto wallet connected to the notorious $300 million Coinbase hack has reappeared with another suspicious move on the Ethereum blockchain.

Over the weekend, the address acquired 3,976 ETH worth approximately $18.9 million, according to on-chain data from Arkham Intelligence. The purchase was executed using 18.9 million DAI, a stablecoin, and split across multiple transactions before being consolidated into the buy.

The transaction came just as Ethereum broke above $4,700, marking its highest level in more than two weeks. Currently, ETH trades at $4,538, down 2.9% in the past 24 hours.

ETH’s price trends to the upside on the daily chart. Source: ETHUSD on Tradingview

A Pattern of Bold Acquisitions

This is not the first time the wallet has made waves. In July, it bought 4,863 ETH for $12.6 million and later added 649 ETH at $3,562 per token. Just last month, the same wallet scooped up $8 million worth of Solana (SOL), though that position has since slipped below entry price.

Analysts say the strategy shows deliberate fund consolidation, often seen in money laundering tactics. Breaking transactions into smaller amounts and using privacy tools allows the hacker to mask movements, making tracking more difficult.

Blockchain investigator ZachXBT previously estimated that the Coinbase-related social engineering scam drained at least $330 million from victims, warning that the real figure may be significantly higher.

Growing Concerns Over Rising Crypto Hacks

The latest Ethereum purchase shows broader concerns in the crypto industry, where hack-related losses reached $163 million in August alone, according to security firm PeckShield.

With exploits shifting from smart contract bugs to social engineering and cross-chain bridge vulnerabilities, wallets like this continue to pose a major threat to investor confidence.

Despite Coinbase offering a $20 million reward for information on the perpetrators and tightening security, the hacker remains unidentified. The latest $19M ETH grab proves the resilience and boldness of cybercriminals operating in the space.

As crypto rallies and institutional inflows grow, the question remains: is the hacker simply riding bullish momentum, or is this part of a deeper strategy to launder stolen funds? Regulators and blockchain investigators are watching closely, but for now, the crypto world is left with more questions than answers.

Cover image from ChatGPT, ETHUSD chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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DOJ Seeks to Seize $500K in USDT from Iran Drone Supplier’s Private Wallet

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In brief

  • The U.S. DOJ has filed a civil forfeiture action to recover over $500,000 in USDT from an Iranian national.
  • Per the DOJ, Mohammad Abedini is founder of Iranian firm SDRA, which supplies technology used in Iran’s Shahed military drones.
  • The USDT tokens were said to be kept in an unhosted cryptocurrency wallet, posing questions over how the seizure could be effected.

The United States Attorney’s Office for the District of Massachusetts has filed a civil forfeiture action to recover approximately $584,741 in Tether (USDT) stablecoins from an Iranian national who provided technology to the Iranian military.

The tokens were said to be kept in an unhosted cryptocurrency wallet, though authorities gave no further details.

Mohammad Abedini, 39, is founder and managing director of San’at Danesh Rahpooyan Aflak Co. (SDRA), an Iranian firm that supplies technology used in drones to the country’s military.

SDRA provides navigation equipment to the firm that produces Shahed drones, which have been widely used in Iran’s drone strikes, by Russia in the war in Ukraine, and by several Middle Eastern military groups.

In January 2024, three U.S. service members were killed on a military base in northern Jordan. Later analysis revealed that an Iranian Shahed UAV using SDRA’s Sepehr Navigation System was responsible for the attack, according to the DOJ.

Abedini is charged with providing material support to foreign terrorist organizations resulting in death, as well as conspiring to procure sensitive U.S. technology used in military drones. He was detained by Italian authorities in December 2024, but was released in January 2025. Per the DOJ, he is now believed to be in Iran.

According to claims from the nonprofit Iran Watch, from 2016 to 2024, Abedini and his business partner allegedly smuggled U.S.-origin electronics and technical data from American manufacturers and re-exported them from Switzerland to Iran. Because the devices were so small, they could reportedly have been carried in a suitcase. These allegations have not yet been proven.

Can the government seize crypto from private wallets?

Seizing crypto from private wallets is not straightforward. Unlike centralized exchanges such as Coinbase or Binance, there is no intermediary for governments to compel—wallet owners control their own keys. However, the U.S. government has managed to do it before.

In 2022, the DOJ seized 94,000 BTC (worth roughly $3.6 billion at the time) from Ilya Lichtenstein and Heather Morgan, who carried out the record-breaking Bitfinex hack.

According to the announcement, investigators traced the stolen Bitcoin through multiple mixers and eventually located the couple’s private keys after gaining access to an online cloud storage account.

In other instances, federal investigators have performed digital forensics on confiscated laptops in order to obtain private keys, as in the case of Silk Road founder Ross Ulbricht.

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