Wallets linked to the U.S. government moved $103.19 million in seized and forfeited crypto on Tuesday, according to an X post from Onchain Lens. The transfers included 833.599 BTC worth $71.56 million sent to Coinbase Prime and 40,285 BNB worth $31.63 million sent to a fresh wallet.
Bitcoin went to Coinbase Prime, while BNB moved to a new wallet
Onchain Lens tied the bitcoin to forfeitures in the Potapenko/Turogin case and the Bitfinex hack case. It linked the BNB to seized FTX and Alameda funds.
Arkham labels showed that roughly 568.7 BTC of the transferred bitcoin came from the Potapenko/Turogin forfeiture, with about 264.9 BTC tied to the Bitfinex case.
A Coinbase Prime deposit does not confirm a sale
Coinbase Prime is an institutional custody and trading platform. A transfer there, by itself, does not indicate that the coins were sold. Unchained said it had found no announcement of a sale tied to the transfers at the time of publication.
Executive order separates bitcoin reserve from other digital assets
A March 2025 executive order says government bitcoin deposited into the Strategic Bitcoin Reserve shall not be sold. That language applies to bitcoin placed into the reserve.
The same order also created a separate Digital Asset Stockpile for digital assets other than bitcoin that are owned by the Treasury Department and have been finally forfeited. It says the Treasury secretary shall determine strategies for responsible stewardship of that stockpile.
Background on the HashFlare case
Estonian nationals Sergei Potapenko and Ivan Turõgin, who operated the purported mining service HashFlare, pleaded guilty in February 2025 to conspiracy to commit wire fraud. They also agreed to forfeit assets worth more than $400 million as of the plea date.
The U.S. Justice Department said at the time that the forfeited assets would be available for a remission process to compensate victims of the crime.