U.S. Moves $1 Billion in Bitcoin From Bitfinex Hack Wallet
Arkham sees no sale, but a reshuffling of seized BTC. The moves around Coinbase Prime and the Strategic Bitcoin Reserve keep the management of the Bitfinex hack funds in focus.
Key Takeaways
- Wallets linked to the U.S. government moved 12,267 bitcoin on Thursday, worth about $1.01 billion, from a 2016 Bitfinex hack wallet.
- The coins went to new, unlabeled addresses; no deposit to an exchange was recorded, which points to wallet reshuffling.
- Earlier, the government had already moved larger amounts to Coinbase Prime, while since March 2025 forfeited bitcoin must be placed in a Strategic Bitcoin Reserve.
Wallets linked to the U.S. government moved 12,267 bitcoin on Thursday, worth about $1.01 billion (€0.9 billion). According to data from blockchain intelligence firm Arkham, the coins came from a wallet funded in the 2016 Bitfinex hack and were sent to a new, unlabeled address.
A second transaction went to another address. No deposit to an exchange was recorded, which points more to wallet reshuffling than to a sale. That matters because a day earlier, the government had already seen larger amounts move to Coinbase Prime addresses.
Earlier Move to Coinbase Prime
About 24 hours earlier, around 3,200 BTC, worth about $264 million (€236 million), and $119 million (€106 million) in USDT ended up in Coinbase Prime deposit addresses. Arkham linked those funds to wallets tied to the FTX/Alameda and Bitfinex seizures. CoinDesk also reported that on Wednesday, more than $100 million (€89.4 million) in BTC and BNB was moved in a similar way.
In July, about $288 million (€257 million) in seized bitcoin and ether was also sent through new intermediary wallets to Coinbase Prime. Moves like these quickly draw attention because Coinbase Prime not only handles trading but also offers custody. So a deposit there does not automatically mean the coins are being sold.
Reserve Policy Still Matters
The move fits into a broader debate over how the U.S. handles seized bitcoin. In March 2025, a presidential order said forfeited bitcoin must be placed in a Strategic Bitcoin Reserve and not sold. Arkham estimates that the U.S. government holds about 328,000 BTC in total, making it the largest known state holder of bitcoin.
For European crypto followers, that is especially relevant because large government moves are often watched as a signal for management, custody, and possible selling pressure. In this case, the combination of new wallets, Coinbase Prime addresses, and the reserve policy points more toward an administrative reshuffle, although the exact purpose of each transaction is not always immediately visible.
The broader market is also watching these kinds of government moves. In a recent analysis of an earlier transfer of more than $100 million, it was already clear that moves like these do not automatically point to a sale.
