US Government Crypto Wallets Move 833.6 Bitcoin to Coinbase Prime, First BTC Transfer Since August

Addresses tracked as US government holdings moved bitcoin on Tuesday for the first time since August 26, sending a combined 833.6 BTC worth a little more than $71 million toward Coinbase Prime.

On-chain attribution ties the coins to two separate forfeiture matters: the Potapenko-Turogin fraud prosecution and bitcoin recovered from the 2016 Bitfinex hack.

The particular sequence was recently first flagged by Sani, the operator of TimechainIndex.com, in posts on X as the transactions confirmed.

A government-labeled wallet began with a dust transfer of 0.00115539 BTC into Coinbase Prime, then shifted 264.86266831 BTC into a fresh address.

Sani described that pair of moves as a likely test ahead of a larger shipment.

Later the same day, the remaining funds from that batch reached Coinbase Prime.

A subsequent transfer of 568 BTC, valued at roughly $48.7 million, also landed at Coinbase Prime and brought the day’s bitcoin total to 833.6 BTC.

The smaller of the two bitcoin lots is associated with coins seized in the Bitfinex case. In August 2016, attackers drained about 120,000 BTC from the exchange.

Investigators later identified Ilya Lichtenstein and Heather Morgan, recovered a large share of the stolen coins, and placed roughly 94,636 BTC under government control.