According to PeckShield Alert, the US government controls the biggest Bitcoin wallet, holding more than $2.46 billion in Bitcoin linked to the 2016 Bitfinex hack. An investment platform, Robinhood, possesses the third-largest Bitcoin wallet.
The US SEC is known for targeting major crypto exchanges like Binance and Coinbase and engaging in a lengthy lawsuit with Ripple, incurring costs of $200 million for the latter. However, PeckShield Alert’s findings hint that the US government could possess the fifth-largest Bitcoin wallet.
#PeckShieldAlert The 5th largest #Bitcoin wallet, holding 94,643 $BTC (worth ~$2.46B currently), is believed to be under the control of the U.S. Government.
The seizure address is directly linked to the 2016 #Bitfinex Hack. On February 1st, 2022, 1CGA4s transferred ~567.5 $BTC… pic.twitter.com/J7ai1vVruK
— PeckShieldAlert (@PeckShieldAlert) August 29, 2023
PeckShield discovered that the fifth-largest Bitcoin wallet, containing 94,643 BTC valued at almost $2.46 billion, is linked to the 2016 Bitfinex Hack. Additionally, on February 1, 2022, 567.5 BTC, worth around $21.88 million, was transferred to the seizure address by 1CGA4s.
The fifth-largest BTC wallet owned by US Govt. by PeckShield
Bitcoin Holdings: US Government and Robinhood’s Accumulation
In February 2022, PeckShield Alert reported that the US Department of Justice (DOJ) had taken control of an account linked to the Bitfinex hack, leading to the confiscation of $3.55 billion worth of Bitcoin. The specific account in question is identified as bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt. Initially stolen in 2017, about 120,000 Bitcoins were valued at $75 million; however, their worth has surged to $3.6 billion in six years.
Forbes’ June report highlighted the US Treasury’s significant Bitcoin holdings, comprising 207,189 BTC valued at $5 billion, marking the largest government-owned Bitcoin reserve. Meanwhile, Sachin Jaitly, an advisor at Morgan Creek Capital, noted in his doctoral thesis that the US holds 69,640 BTC, encompassing “94% of the bitcoin in global government coffers at the time.”
Furthermore, data from Arkham Intelligence revealed that the trading platform Robinhood has amassed over $3 billion worth of Bitcoin within a single wallet across several months.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
