US government moves $1B in seized Bitcoin after $770M transfers
Key Summary
The US government has moved $1 billion in seized Bitcoin to a Coinbase Prime wallet, following a $770 million transfer earlier in the day. Blockchain analysts linked the move to the recovery of funds from the 2016 Bitfinex hack. The US government held 328,372 BTC as of 2026, resulting from seized assets in criminal cases and investigations.
Transaction Details
Blockchain data from Wednesday showed that a wallet associated with crypto seized by the US government had transferred more than 12,267 Bitcoin (BTC), worth more than $1 billion at the time of publication.
Recovering Funds from the Bitfinex Hack
Arkham Research linked the wallet moving the Bitcoin to the recovery of funds from the 2016 Bitfinex hack, in which hackers stole 119,756 BTC. The identity of the owner of the recipient address was unknown at the time of publication.
Government Bitcoin Reserve
US President Donald Trump signed an executive order in March 2025 establishing a strategic Bitcoin and crypto reserve, but lawmakers are still attempting to codify the order into law. Estimates suggest the US government held 328,372 BTC as of 2026, resulting from seized assets in criminal cases and investigations.