US government moves $1B in seized Bitcoin after $770M transfers

Blockchain analysts identified the US government wallet tied to the recovery of funds from the Bitfinex hack.

The US government completed another major transaction involving seized cryptocurrency hours after moving a significant amount of Bitcoin to a Coinbase Prime wallet.

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. The move came just hours after similar transfers from the government totaling $770 million in BTC to a Coinbase Prime wallet.

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.

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