The coins left a wallet holding funds seized in the 2016 Bitfinex hack and went to a new, unlabeled address, with a second transaction going to a different address. No exchange deposit was recorded, a pattern more consistent with wallet reshuffling than a sale
The transfer follows heavier exchange-bound activity 24 hours earlier, when roughly 3,200 BTC (about $264 million) and $119 million in USDT were deposited into Coinbase Prime addresses. The funds came from wallets tied to the FTX/Alameda and Bitfinex seizures, according to Arkham’s identification
CoinDesk reported on Wednesday that more than $100 million in BTC and BNB moved in a similar fashion. In July, about $288 million in seized bitcoin and ether was routed to Coinbase Prime via fresh intermediary wallets
Deposits to Coinbase Prime don't necessarily indicate a sale, as the platform also provides custody services. A March 2025 executive order directed that forfeited bitcoin be placed into a Strategic Bitcoin Reserve and said it should not be sold. The government still holds about $25.5 billion worth of crypto, Arkham shows
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