U.S. Government Moves $470 Million in Cryptocurrency

The U.S. government has transferred about $470 million in various cryptocurrencies to new addresses, mostly linked to confiscated assets.

In a recent development, U.S. government-controlled wallets transferred approximately $470 million worth of cryptocurrencies, including Bitcoin, WBTC, BNB, USDT, and ETH, to new addresses. Arkham identified these assets as having been confiscated from hackers involved in the Bitfinex breach, operators of the fraudulent HashFlare scheme, and entities related to FTX/Alameda. Among the assets linked to the bankrupt companies of Sam Bankman-Fried, around $75 million worth of coins were sent to Coinbase Prime. The remaining assets have been moved to new addresses, the ownership of which Arkham has yet to ascertain.