U.S. government-linked wallet sends 264.863 BTC to Coinbase for Bitfinex restitution

  • U.S. government-linked wallet transferred approximately 264.863 BTC to Coinbase.
  • The October transfer was valued at about $22.87 million.
  • A 2025 court ruling required the seized Bitcoin’s in-kind return to Bitfinex.

A U.S. government-linked wallet transferred approximately 264.863 BTC, worth about $22.87 million, to Coinbase on October 6, 2026. The Bitcoin was seized after the 2016 Bitfinex hack and the transfer appears connected to a 2025 federal court order requiring in-kind restitution to Bitfinex, rather than a government market sale. Earlier in April, about 8.2 BTC worth approximately $606,000 moved to a Coinbase Prime deposit address in transactions characterized as custody-related. Bitfinex reportedly plans to use the returned assets to redeem Recovery Right Tokens for hack victims and direct at least 80% of remaining net proceeds toward repurchasing and burning UNUS SED LEO.

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