In a significant transaction, the U.S. government has transferred approximately 8.2 Bitcoins (BTC) valued at around $606,000 to Coinbase Prime. This transfer is linked to the notorious 2016 Bitfinex hack, as confirmed by on-chain data from Arkham Intelligence.
The transaction involved two consecutive outflows from a government-controlled wallet: a primary transfer of 7.999 BTC followed by a smaller deposit of 0.197 BTC to the same Coinbase Prime address. While such transfers often lead to speculation about potential liquidation, these specific Bitcoins are already legally earmarked for restitution.
In early 2025, a federal court authorized the return of roughly 94,643 BTC to Bitfinex, establishing the exchange as the sole victim entitled to the recovery of funds linked to the hack. This recent outflow is part of a broader trend, following previous transfers from the federal wallet earlier in 2026. Notable dates include March 3 and April 10, when smaller amounts were moved to the exchange.
According to data from Arkham, U.S. government wallets presently hold 328,361 Bitcoins, amounting to approximately $24 billion as of April 2026. The recent transfer represents a mere 0.0024% of this substantial reserve.
The 2016 Bitfinex hack saw Ilya Lichtenstein executing 2,000 fraudulent transactions, resulting in the theft of 119,754 BTC. In November 2024, Lichtenstein was sentenced to five years in prison relating to the case. Along with his wife, Heather Morgan, he pleaded guilty to conspiracy to commit money laundering in August 2023. Following an early release in January 2026 under the First Step Act, Lichtenstein’s case continues to reflect the complexities of cryptocurrency crime and legal repercussions.
