Bitcoin Transfer Details and New Wallets

On-chain tracking platform Arkham reported that on March 27, the US government moved 93.96 BTC (~$8M) to a new wallet, along with 884.33 ETH (~$1.77M).

Arkham announcement:

“The US government has transferred $8.46M in BTC from the Sae-Heng confiscated funds wallet.”

Despite this transfer, the US government still holds over $17 billion in crypto assets, with 198,000 BTC making up the majority of its reserves.

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Confiscated BTC and the ‘Pig Butchering’ Scam

The Sae-Heng wallet holds funds seized from a ‘pig butchering’ scam targeting US citizens. The assets were confiscated from Wanpadet Sae-Heng’s Binance account and initially transferred to a government-controlled storage wallet.

Total confiscated assets include:

• 97.33 BTC
• 2.56M DOGE
• 884.33 ETH
• 85M ADA

While some confiscated funds might be returned to scam victims, larger forfeitures could be allocated to the government’s crypto reserves.

US Bitcoin Strategy and Reserve Plans

On March 7, President Donald Trump signed an Executive Order to create a crypto reserve, using Bitcoin (BTC) already held by the US government. The Strategic Bitcoin Reserve Act is still under review in Congress, but if approved, the reserve’s primary source of BTC would come from confiscations.

The US now holds more Bitcoin than China’s 190K BTC, making it the largest state BTC holder. While previous plans considered liquidation, the government has now shifted to holding BTC as a strategic asset.

Some funds may be returned to victims of scams, while Silk Road BTC and similar holdings may remain part of the national crypto reserve.

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