$1B in Confiscated Bitcoin Transferred by US Government Following $770M Transactions

$1B in Confiscated Bitcoin Transferred by US Government Following $770M Transactions

In a recent sequence of government-connected Bitcoin movements, cryptocurrency valued at over $1 billion was transferred to an address whose ownership remained undisclosed at the time of the transaction.

Within hours of transferring a substantial quantity of Bitcoin to a Coinbase Prime address, the US government executed yet another significant transaction involving confiscated digital assets.

On-chain information recorded on Wednesday revealed that an address connected to cryptocurrency confiscated by US authorities had moved over 12,267 Bitcoin (BTC), valued at more than $1 billion based on current market prices. This activity occurred merely hours following comparable movements from government-controlled wallets that totaled $770 million worth of BTC sent to a Coinbase Prime address.

According to Arkham Research, the wallet responsible for moving the Bitcoin was associated with the retrieval of assets from the Bitfinex hack that occurred in 2016, during which cybercriminals made off with 119,756 BTC. The identity of whoever controlled the receiving address remained undetermined at the time this report was published.

Cointelegraph attempted to contact both the US Marshals and the Department of Justice seeking comment regarding the Coinbase Prime transfers, however no immediate response was provided.

Current estimates indicate the US government possessed 328,372 BTC as of 2026, accumulated through confiscated assets stemming from criminal proceedings and law enforcement investigations. Former US President Donald Trump issued an executive order in March 2025 creating a strategic Bitcoin and crypto reserve, though legislators continue working to transform the executive order into codified legislation.