U.S. government-labeled seized-funds addresses moved about $12.9 million in crypto across Coinbase Prime and several other wallets during a six-hour period.
The largest transfers came from an address holding assets seized through the Bitfinex hack case. The wallet sent approximately 5,939 ETH and 296,709 USDT to Coinbase Prime, with the two deposits valued at a combined $11.45 million when transferred. Another 901,005 USDC moved to a separate address.
The Coinbase Prime deposits confirm a change in custody or asset location, not a completed market sale. The U.S. Marshals Service selected Coinbase Prime for custody and advanced trading of large-cap digital assets managed through federal forfeiture programs in 2024. The platform can support custody, administration and execution, leaving the purpose of the latest transfers unconfirmed.
Transfers Follow $288M Government Wallet Movement
The activity came one day after government-labeled wallets moved $288.33 million in Bitcoin and Ether to Coinbase Prime. That July 14 batch included 3,800.5 BTC and 30,000 ETH routed through several transactions.
The Bitfinex-related holdings trace back to the 2016 exchange breach, when 119,754 BTC were removed through more than 2,000 unauthorized transactions. Federal investigators later recovered more than 94,000 BTC after obtaining the private keys to a wallet holding most of the stolen assets. The Justice Department valued the recovery at more than $3.6 billion when it announced the seizure in February 2022.
The latest transfers involve ETH and stablecoins held inside the government-labeled Bitfinex seized-funds cluster rather than a new movement directly from Bitfinex.
FTX and Alameda Wallet Distributes Eight Assets
A separate government-labeled address holding FTX and Alameda seized assets transferred approximately $543,000 across multiple wallets.
The batch included 209.18 ETH, 0.533 WBTC, 1,231 COMP, 5.37 YFI, 4,054 NMR, 4,107 AXS and 138,950 RLC. No single Coinbase Prime destination was identified across the full group.
The same seized-funds cluster previously sent 98,590 LINK to Coinbase Prime in June. Arkham has tracked U.S. government-controlled Alameda addresses actively redeeming and consolidating assets since October 2024, including conversions of Aragon tokens into ETH while the proceeds remained inside government-controlled wallets.
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