US Returns 264 Bitcoin to Bitfinex via Coinbase

The US government has transferred 264.863 Bitcoin (BTC), worth approximately $22.87 million, to Coinbase as part of restitution for the 2016 Bitfinex hack. The transfer, which took place on October 6, 2026, was not a sale but rather the return of seized assets to their original owner.

This transfer follows an earlier movement of 8.2 BTC in April 2026, also sent to Coinbase Prime, the exchange’s institutional arm. The transactions are part of administrative processes under the US Marshals Service, aimed at returning seized Bitcoin rather than liquidating it.

The movement of these coins stems from a 2025 federal court ruling that required the Bitcoin to be returned to Bitfinex in-kind as restitution. The hack, one of the largest in crypto history, involved the theft of about 119,754 BTC. In 2022, federal authorities recovered around 94,636 BTC linked to the hack, leading to the conviction of Ilya Lichtenstein and Heather Morgan.

Bitfinex plans to use the returned Bitcoin to redeem Recovery Right Tokens issued to victims of the 2016 breach. Additionally, the exchange intends to allocate at least 80% of any remaining net proceeds toward repurchasing and burning its UNUS SED LEO token. The US government’s larger Bitcoin holdings exceed 328,000 BTC, making this transfer a small fraction of its total holdings.