Blockchain analysts identified the US government wallet tied to the recovery of funds from the 2016 Bitfinex hack.

The United States government executed another major transfer of seized cryptocurrency on Wednesday, moving more than $1 billion in Bitcoin just hours after sending a separate $770 million batch to a Coinbase Prime wallet.

Blockchain data showed that a wallet associated with cryptocurrency seized by the US government transferred more than 12,267 Bitcoin (BTC), worth more than $1 billion at the time of publication. The transaction came only hours after similar government transfers totaling $770 million in BTC to a Coinbase Prime wallet, the institutional custody platform of US-based exchange Coinbase. Transfers of this scale from government-controlled wallets are routinely tracked by on-chain observers, as a single transaction can move hundreds of millions of dollars in Bitcoin at a time.

Blockchain analytics firm Arkham Research linked the wallet behind the movement to the recovery of funds from the 2016 Bitfinex hack, one of the largest cryptocurrency thefts on record, in which attackers stole 119,756 BTC. US authorities subsequently recovered a significant portion of the stolen coins, which have since been moved in tranches. The identity of the owner of the recipient address remained unknown at the time of publication.

Cointelegraph reached out to the US Marshals Service and the Department of Justice for comment on the Coinbase Prime transfers but did not receive an immediate response. Until officials confirm the purpose of the latest transfer, its relationship to the government's custody arrangements remains an open question.

The latest movement adds to a series of large transfers from government-controlled wallets in recent years. Estimates suggest the US government held 328,372 BTC as of 2026, a scale that places it among the largest known holders of Bitcoin, with the holdings accumulated through assets seized in criminal cases and investigations.

US President Donald Trump signed an executive order in March 2025 establishing a strategic Bitcoin and crypto reserve, although lawmakers are still working to codify the order into law. The order provides for the reserve to be capitalized with Bitcoin forfeited through criminal and civil proceedings rather than purchased on the open market, a design that keeps the government's seizure activity directly tied to how the reserve is ultimately funded.

Related: US government moves $297M in seized Bitcoin, Ether to Coinbase Prime