Bitcoin
US Government Moves $1.01 Billion in Seized Bitcoin to Unidentified Wallets
Blockchain tracking data shows the US government moved 12,267 Bitcoin linked to the 2016 Bitfinex hack to unlabelled addresses with no confirmed sale.
Wallets linked to the US government transferred 12,267 Bitcoin, valued at approximately $1.01 billion, to unidentified addresses on October 8. According to blockchain analytics platform Arkham, the funds originated from assets recovered following the 2016 Bitfinex security breach.
The destination addresses are not flagged as exchange deposit accounts, and on-chain records do not confirm that a sale took place. This transfer follows earlier activity on October 6 and 7, during which Galaxy Research tracked roughly 9,261 Bitcoin worth $770 million sent to Coinbase Prime, alongside 40,285 BNB and $94.15 million in USDT from FTX-related addresses.
In total, government-associated cryptocurrency movements reached approximately $1.87 billion over a three-day period. Because Coinbase Prime provides custody services in addition to trading, deposits made to the platform do not verify that assets are being liquidated.
The asset movements took place as Bitcoin traded near $82,000 and spot Bitcoin ETFs experienced $485 million in net daily outflows. The final disposition of the recovered Bitfinex tokens remains tied to restitution proceedings, following prosecutors' efforts in 2025 to return seized assets to the exchange.
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