Two crypto wallets under the U.S. government’s supervision were recently in the spotlight. These wallets contained bitcoin seized during the infamous Bitfinex hack, which resulted in guilty pleas from Ilya Lichtenstein and Heather “Razzlekhan” Morgan.

Here’s what happened:

• Active Wallets: These wallets, previously holding seized bitcoin linked to the Bitfinex hack, suddenly sprang into action.
• Significant Transfer: Nearly $1 billion worth of bitcoin was moved from these wallets to unidentified addresses. This hefty sum was transferred in four transactions within fewer than two hours.
• Motive Unclear: The reason behind these transfers remains unclear. Despite inquiries, the U.S. government has not commented on the purpose behind these transactions.

Let’s break down the specifics:

• Wallet #1: Initially, this wallet sent 1 BTC, followed by the remaining 2,817 BTC, totaling about $173 million.
• Wallet #2: This wallet, holding approximately 12,300 BTC, transferred 0.01 BTC to another unidentified address before sending the rest. These transfers amounted to roughly $750 million.

The total value of bitcoin transferred from these two wallets is about $923 million, based on the current bitcoin price.

Interestingly, these transactions occurred amidst a volatile day of cryptocurrency trading. Bitcoin’s price surged to $60,000, marking a significant milestone since November 2021, before fluctuating between $64,000 and just above $59,000.

Moreover, there’s another government wallet holding approximately 94,600 BTC of seized Bitfinex hacker funds, valued at approximately $5.79 billion at the current price.

The Bitfinex hack was a major crypto industry event known for its significant impact. It led to the seizure of about 95,000 stolen bitcoins from crypto wallets associated with the defendants, valued at around $3.6 billion.

In conclusion, these recent developments shed light on the ongoing legal actions and management of seized assets related to the Bitfinex hack, highlighting the complexities of law enforcement activities in the crypto space.

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Source: U.S. Government Crypto Wallets Transfer Nearly $1B of Bitcoin Seized From Bitfinex Hacker