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The U.S. government allegedly transferred Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) from two wallets that contained funds confiscated in the 2016 Bitfinex hack. 
According to Arkham Intelligence, on Feb. 28, from approximately 18:39 UTC to 19:55 UTC, U.S. authorities transferred almost a billion dollars worth of Bitcoin in four transactions. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="395" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-29-at-10.00.38-1024x395.png" alt="US government transfers $922m in Bitcoin from seized Bitfinex hack funds - 20" class="wp-image-14253618">
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 Source: Arkham Intelligence
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First, the wallet transferred 1 BTC worth $60,200 (at the time of the transaction). The U.S. government then moved another 2,817 BTC worth approximately $172.74 million to unknown addresses. 
Then, less than an hour later, from another wallet, the government transferred 0.01 BTC and 12,267 BTC, worth about $748.46 million, in two transactions. This brought the aggregate volume to approximately $922 million at the transfer time. 
 You might also like: <a href="https://crypto.news/u-s-government-to-sell-over-131m-in-bitcoin-seized-from-silk-road/"> U.S. government to sell over $131m in Bitcoin seized from Silk Road </a> 
The U.S. government is considered one of <a href="https://crypto.news/u-s-government-is-now-largest-bitcoin-whale-with-5b-in-btc/" target="_blank" rel="noreferrer noopener">the largest Bitcoin whales</a>. According to Arkham Intelligence, it has just over 200,000 BTC on its balance sheet, worth $12.44 billion. Of this, about 94,600 BTC are assets confiscated due to the Bitfinex platform hack, according to 21.co. 
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 <img loading="lazy" decoding="async" width="1024" height="338" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-29-at-09.55.47-1024x338.png" alt="US government transfers $922m in Bitcoin from seized Bitfinex hack funds - 21" class="wp-image-14253620">
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During the <a href="https://crypto.news/tag/Bitfinex/" target="_blank" rel="noreferrer noopener">Bitfinex</a> hack in 2016, hackers stole almost 120,000 BTC. In February 2019, the U.S. authorities returned more than 27,000 BTC to the exchange, converted them into dollars, and paid them to holders of RRT (Recovery Right Token) tokens. 
The person behind the attack, <a href="https://crypto.news/new-york-resident-confesses-to-hacking-bitfinex-in-2016/" target="_blank" rel="noreferrer noopener">Ilya Lichtenstein</a>, admitted to infiltrating Bitfinex’s security systems over an extended period. The motive behind Lichtenstein’s decision to target Bitfinex in 2016 <a href="https://crypto.news/bitfinex-hacker-tactics-court/" target="_blank" rel="noreferrer noopener">was reportedly linked</a> to the challenges he faced with his technology startup in San Francisco. 
 Read more: <a href="https://crypto.news/bitfinex-hackers-may-plead-guilty-prosecutors-to-recover-3-billion/"> Bitfinex hackers may plead guilty, prosecutors to recover $3 billion </a>

US government transfers $922m in Bitcoin from seized Bitfinex hack funds

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