The U.S. government has transferred 12,267 bitcoin, valued at approximately $1.01 billion, from a wallet associated with the 2016 Bitfinex hack to new, unlabeled addresses. Notably, this transaction did not involve any deposits to cryptocurrency exchanges, indicating that the movement of funds was likely for wallet management rather than for sale.
Transaction Details
Data from blockchain intelligence firm Arkham reveals that the transfer occurred on Thursday, with no exchange deposits recorded. This aligns with a recent pattern of increased exchange activity, as just a day prior, around 3,200 BTC (worth about $264 million) and $119 million in USDT were sent to Coinbase Prime deposit addresses from wallets linked to previous seizures, including those from FTX/Alameda and Bitfinex.
CoinDesk had previously reported that over $100 million in BTC and BNB had moved similarly. In July, the government also transferred roughly $288 million in seized bitcoin and ether to Coinbase Prime through newly created intermediary wallets.
It's important to note that deposits at Coinbase Prime do not necessarily indicate a sale, as the platform also offers custody services. A March 2025 executive order mandates that forfeited bitcoin be placed into a Strategic Bitcoin Reserve rather than sold. Currently, the government retains approximately $25.5 billion in cryptocurrency, according to Arkham's data.