The U.S. government has moved approximately 97.3 Bitcoin (BTC)

Blockchain intelligence platform Arkham identified the transfer occurring from a wallet associated with funds seized from Wanpadet Sae Heng.

The U.S. government has moved approximately 97.3 Bitcoin (BTC), valued around $8.46 million at the time, from a wallet holding previously confiscated funds, according to blockchain intelligence platform Arkham.

Highlighting the transfer of the bulk of these coins, valued at roughly $8.46M, went to a newly created ‘change’ address (bc1q7qf), while a minimal fraction, about $10, went to a separate new address (bc1qs0q).

Concurrent with the Bitcoin move, approximately 88.4 Ethereum (ETH) units, valued at nearly $1.77M, were also transferred from the same source wallet to a different new address (“0xBf7fb”).

This recent transfer, which occurred on August 18, began with the movement of the crypto assets from a wallet linked to funds seized from Wanpadet Sae Heng, who was allegedly involved in a fraudulent “pig butchering” scheme.

U.S. authorities reportedly worked in coordination with Binance to confiscate various cryptocurrencies from Heng during that operation.

These actions have led to speculation about the formation of a strategic Bitcoin reserve by the U.S., although officials have not provided an official explanation for the transfer.

This Bitcoin transfer isn’t an isolated incident regarding government-managed crypto wallets.

Just weeks ago, the same address reportedly moved 299 Avalanche (AVAX) tokens linked to funds seized in a separate case involving Brain Krewson, as highlighted by Arkham’s analysis.

Such on-chain movements continue to raise questions about the government’s evolving strategy for managing its considerable cryptocurrency holdings obtained through various enforcement actions.

Despite this recent transfer, the U.S. government remains the largest known sovereign holder of Bitcoin, possessing approximately 198,012 BTC currently valued near $17.04 billion (based on recent BTC price levels).

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