Fifth-Largest Bitcoin Wallet holding $2.46B Owned Is by US Government

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Fifth-Largest Bitcoin Wallet holding $2.46B Owned Is by US Government
Credit: © Reuters.

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  • PeckShield Alert tweeted that the US government is behind the first-largest Bitcoin wallet.
  • The wallet holds over $2.46 billion worth of Bitcoin, linked to the 2016 Bitfinex attack.
  • The third-largest Bitcoin wallet is held by an investment platform Robinhood (NASDAQ: HOOD ).

The US SEC is infamous for cracking down on major crypto exchanges including Binance and Coinbase (NASDAQ: COIN ), as well as fighting a three years-long lawsuit against Ripple , which has cost the company $200 million. However, crypto analytics platform PeckShield Alert’s investigation suggested that the US government might own the world’s fifth-largest Bitcoin wallet.

According to PeckShield, the fifth-largest BTC wallet holding 94,643 BTC worth nearly $2.46 billion, is directly connected to the Bitfinex Hack in 2016. Moreover, 567.5 BTC, worth about $21.88 million, was moved to the seizure address by 1CGA4s, on February 1, 2022.

The fifth-largest BTC wallet owned by US Govt. by PeckShield

In February 2022, PeckShield tweeted that the Department of Justice (DOJ) assumed control over the account 1CGA4srJbPWhtJb7ezgY6GQf4PKhFuzD9w and has confiscated $3.55 billion worth of Bitcoin associated with the Bitfinex hack. The DOJ’s account for this matter is bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt. Approximately 120,000 Bitcoins were unlawfully taken in 2017, originally valued at $75 million, and now, six years later, their worth has surged to $3.6 billion.

Forbes published a report in June that highlighted the US Treasury holding 207,189 BTC valued at $5 billion, “by far the largest such state-owned hoard.” Additionally, Morgan Creek Capital investment advisor, Sachin Jaitly’s doctorial thesis revealed that the US owned 69,640 BTC, “94% of the bitcoin in global government coffers at the time.”

Meanwhile, wallet data from Arkham Intelligence disclosed that the trading platform Robinhood holds over $3 billion BTC collected in a single wallet gained over a number of months.

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