US Government Transfers Another $1 Billion in Bitcoin
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By: Turner Wright and Sam Bourgi
Blockchain analysts identified the US government wallet tied to the recovery of funds from the 2016 Bitfinex hack. The US government recently completed a significant transaction involving seized cryptocurrency, transferring over 12,267 Bitcoin (BTC) worth approximately $1 billion. This follows a previous transfer of $770 million in BTC to a Coinbase Prime wallet.
Arkham Research linked the wallet moving the Bitcoin to the 2016 Bitfinex hack, where hackers stole 119,756 BTC. The identity of the recipient's owner remains unknown. Cointelegraph reached out to the US Marshals and Department of Justice for comment but did not receive an immediate response.
Estimates suggest the US government holds around 328,372 BTC, primarily from seized assets in criminal cases and investigations. US President Donald Trump signed an executive order in March 2025 establishing a strategic Bitcoin and crypto reserve, though lawmakers are still working to codify it into law.