U.S. moves $12.36M in ETH, USDT and USDC to Coinbase Prime
On July 14 the U.S. government transferred $12.36M in ETH, USDT and USDC from a DOJ-controlled Bitfinex-hack seizure wallet; ETH and USDT went to Coinbase Prime, USDC to an unlabeled address.
The U.S. government moved $12.36 million in ether, USDT and USDC on July 14 from a Department of Justice-controlled wallet tied to the 2016 Bitfinex hack, according to blockchain-tracing data. Arkham Intelligence logged the transactions and labeled the sender as the DOJ-controlled Bitfinex seizure wallet.
Arkham recorded six transactions in a tight window. The largest single transfer sent 5,939 ETH, about $11.15 million, to Coinbase Prime. A second ETH transfer of roughly $11,260 followed to the same destination. A USDT transfer of about $296,710 also went to Coinbase Prime. The USDC leg, totaling $901,005, went to an address beginning with 0x7D7C1C4c that Arkham has not yet identified.
Each asset moved in a two-step pattern: a small test transfer, typically $10 or $11, followed by the full amount. The small transfers preceded the larger ones on each address. Blockchain transactions cannot be reversed once confirmed, so senders commonly use test transfers to confirm receiving addresses before sending larger sums.
Coinbase Prime is an institutional custody and trading platform used by exchanges and large traders for deposits, custody and trade execution. Arkham’s data shows the ETH and USDT legs were routed to Coinbase Prime while the USDC leg went to the unlabeled address.
The $12.36 million transfer is about 0.06% of the roughly $21.22 billion in crypto Arkham attributes to the U.S. government across 618 tracked addresses. That tracked portfolio is dominated by bitcoin, which Arkham lists at about $20.91 billion, or roughly 98.5% of the total. Other holdings include $145.25 million in USDT, $48.42 million in wrapped BTC, $41.86 million in ether and smaller positions in BNB, USDC, DAI, wrapped ETH, ZEC, SHIB, GNO and RLC.
The July 14 activity followed on-chain movements on July 13, when about 3,941 BTC linked to the same DOJ-controlled wallet moved to Coinbase Prime. Arkham’s transaction records provide the public details of these asset transfers from wallets tied to past criminal seizures.
The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We make every effort to keep the content accurate and current, but we cannot warrant its precision, completeness, or reliability. GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. Any actions you take based on this content are done at your own risk. Always conduct independent research and seek guidance from a qualified specialist. For further details, please review our Terms, Privacy Policy and Disclaimers.
Articles by this author
