U.S. Government moves 296.71K USDT from seized Bitfinex hacker funds to Coinbase Prime for likely OTC sale.
Regulation & Gov ·
The U.S. Government has transferred 296.71K USDT from seized Bitfinex hacker funds to Coinbase Prime, according to onchain data. The move suggests preparation for an over-the-counter sale of the confiscated stablecoin holdings.
The transfer places the seized assets at a major institutional custody provider known to facilitate large off-market transactions. Coinbase Prime offers settlement and trading infrastructure for institutional clients, making it a typical venue for government liquidations that seek to avoid disrupting public markets.
The timing and destination remain consistent with prior patterns of U.S. law enforcement converting seized crypto into fiat through institutional channels, though no official statement on the intended sale timeline or price targets has yet been disclosed.