Wallets linked to the U.S. government moved 12,267 BTC, worth about $1.01 billion, out of a wallet tied to the 2016 Bitfinex hack. The coins went to new, unlabeled addresses rather than an exchange, a pattern that points to wallet reshuffling instead of a sale.
Wallets linked to the U.S. government moved 12,267 bitcoin, worth about $1.01 billion, on Thursday, according to data from blockchain intelligence firm Arkham. No sale has been confirmed.
Coins leave the Bitfinex hack wallet
The coins left a wallet holding funds seized in the 2016 Bitfinex hack and went to a new, unlabeled address, with a second transaction going to a different address. No exchange deposit was recorded, a pattern more consistent with wallet reshuffling than a sale. Arkham Research linked the wallet to the recovery of funds from the 2016 Bitfinex hack, in which hackers originally stole 119,756 BTC, though the identity of the recipient address owner was unknown at the time of publication.
The transfers landed while the BTC price stayed in the red, falling around 2% over the prior seven days to around $82.5k. Concerns tied to the latest FOMC meeting were also weighing on broader market sentiment.
Prior transfers reached Coinbase Prime
The move follows heavier exchange-bound activity the day before, when roughly 3,200 BTC, about $264 million, and $119 million in USDT landed at Coinbase Prime deposit addresses from wallets tied to the FTX/Alameda and Bitfinex seizures. Separately, on October 7, the government moved around $103 million in seized crypto, including 833.6 BTC worth nearly $71.56 million and 40,285 BNB valued at approximately $31.63 million. Deposits to Coinbase Prime don't necessarily indicate a sale, however, because the platform also provides custody services.
Reserve policy still caps any sale
A March 2025 executive order directed forfeited bitcoin into a Strategic Bitcoin Reserve and said it should not be sold, and the government still holds about $25.5 billion worth of crypto, per Arkham. Separately, estimates suggest the government held 328,372 BTC as of 2026 from seized assets across criminal cases, and lawmakers are still attempting to codify the reserve order into law. Large wallet movements often draw attention because they can precede shifts in market liquidity, but moving coins between wallets does not by itself confirm they have entered the open market.
Sources: CoinDesk, Cointelegraph, CoinGape
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