The US government moved 9,261 Bitcoin worth $770 million to Coinbase Prime, stemming from asset seizures tied to previous cryptocurrency exploits.
Of the 9,261 Bitcoin (BTC) transferred over the past two days, half was recovered from the Bitfinex hackers, while another portion stemmed from known Binance seizures, wrote Galaxy Research in a Thursday X post.
An additional 2,456 BTC originated from previously unknown holdings and was sent to the US governments seizure address on Coinbase Prime and may represent new law enforcement seizures, according to Galaxy.
The onchain flows show that the US government continues recovering crypto assets from prior exploits. Coinbase Prime has been used by the US Marshals Service as the custody provider to handle seized assets since 2024.
Previous movements from the government-labeled wallet have sparked speculation about potential liquidations, but a sale would conflict with US President Donald Trump‘s March 2025 executive order, which specified that seized Bitcoin should not be sold and should become part of the country’s Strategic Bitcoin Reserve.
Cointelegraph has contacted the US Marshals and the Department of Justice for comment on the transfers.
In July, the US government moved $297 million in Bitcoin and Ether (ETH) to Coinbase Prime, with funds originating from high-profile US government crypto seizures.