{"id":13833,"date":"2024-02-29T17:50:19","date_gmt":"2024-02-29T17:50:19","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=13833"},"modified":"2024-02-29T16:44:31","modified_gmt":"2024-02-29T16:44:31","slug":"us-government-transfers-922-million-in-seized-bitcoin-as-btc-surpasses-60000","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/us-government-transfers-922-million-in-seized-bitcoin-as-btc-surpasses-60000\/","title":{"rendered":"US Government Transfers $922 Million in Seized Bitcoin as BTC Surpasses $60,000"},"content":{"rendered":"

On February 28th, the United States government executed a transfer of $922 million worth of Bitcoin from two cryptocurrency wallets, which held funds seized from Bitfinex back in 2016. This move coincided with Bitcoin breaking the $60,000 threshold for the first time in over two years.<\/p>\n

The initial transfer, totaling 1 Bitcoin ($60,200 during the transaction), occurred at 3:39 pm on February 28th. Shortly after, the government-labeled wallet carried out a second transaction worth 2,817 Bitcoin ($172.74 million), followed by a third transaction worth 0.01 Bitcoin ($613.35), and a fourth transaction worth 12,267 Bitcoin ($748.46 million), as per Arkham Intelligence data.<\/p>\n

\"U.S.
U.S. government Bitcoin wallet transfers. Source: Arkham Intelligence<\/figcaption><\/figure>\n

The government’s seizure of these funds dates back to 2016 when Bitfinex was hacked, resulting in the loss of approximately 119,754 BTC, valued at over $7.4 billion at current market prices.<\/strong><\/p>\n

Fidelity \u2018s Ethereum ETF Application Delayed!<\/strong><\/a><\/p><\/blockquote>\n

This transfer came on the heels of Ilya Lichtenstein’s court appearance in Washington. Lichtenstein, a hacker involved in the theft and laundering of over $4.5 billion worth of Bitcoin from the Bitfinex exchange, disclosed details of the operation to a jury on February 27th. He admitted to having access to Bitfinex’s systems for several months and hacking individual accounts at exchanges like Coinbas<\/a>e and Kraken<\/strong>.<\/p>\n

The US government seized $3.6 billion in assets<\/span><\/h2>\n

Lichtenstein and his wife, Heather Morgan, were apprehended in February 2022, accused of conspiring to launder $4.5 billion in hacked Bitcoin. The US government seized $3.6 billion in assets<\/strong>, marking the largest financial seizure in history. An additional $475 million worth of Bitcoin was seized on August 3, 2022.<\/p>\n

In August 2023, Lichtenstein and his wife pleaded guilty to money laundering conspiracy related to the Bitfinex hack. Also, Amazon has reportedly begun production on a film about the Bitfinex money laundering saga, drawing inspiration from a 2022 article in The New York Times that dubbed the couple “Bitcoin’s Bonnie and Clyde.”<\/strong><\/p>\n

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Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong><\/a>,\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a> for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On February 28th, the United States government executed a transfer of $922 million worth of Bitcoin from two cryptocurrency wallets, which held funds seized from Bitfinex back in 2016. This move coincided with Bitcoin breaking the $60,000 threshold for the first time in over two years. The initial transfer, totaling 1 Bitcoin ($60,200 during the<\/p>\n","protected":false},"author":1,"featured_media":13834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[520,61,1844,4633,2858,4632],"class_list":["post-13833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arkham","tag-bitcoin","tag-bitfinex","tag-bitfinex-hack","tag-united-states","tag-us-government"],"yoast_head":"\nUS Government Transfers $922 Million in Seized Bitcoin as BTC Surpasses $60,000 - Coin Engineer<\/title>\n<meta name=\"description\" content=\"United States government executed a transfer of $922 million worth of Bitcoin from two cryptocurrency wallets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/us-government-transfers-922-million-in-seized-bitcoin-as-btc-surpasses-60000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Government Transfers $922 Million in Seized Bitcoin as BTC Surpasses $60,000 - 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