US government moves all Bitcoin from the Sae-Heng confiscated funds wallet
The post US government moves all Bitcoin from the Sae-Heng confiscated funds wallet appeared on BitcoinEthereumNews.com.
The US government moved some of its Bitcoin (BTC) holdings to a new wallet. The move happens amid talk of shifting all confiscated assets to a national crypto reserve. The movement of funds is standard procedure for some assets, but this time, the transaction drew more attention. The transaction originated with a smaller government-controlled wallet. The address is tagged as holding the Sae-Heng confiscated funds. This is one of the more significant transfers of funds, after the government moved 298.93 AVAX linked to Brian Krewson to a new address. Arkham, the on-chain wallet tracking service, tracked the transaction for 93.96 BTC, valued at around $8M. Additionally, 884.33 ETH valued at $1.77M were shifted to a new address. ARKHAM ALERT: US GOVERNMENT MOVING $8M $BTC The US Government just moved $8.46M BTC from Sae-Heng Confiscated Funds. $10 of BTC was sent to:bc1qs0qhmlzh2wvs0n70vn7s6jj37zvek2e7t73kfg The remaining $8.46M moved to a change wallet:bc1q7qf075up5nkd6hejgkmr9ms0fal97w35asrs55 pic.twitter.com/oTBWxTD2pz — Arkham (@arkham) March 27, 2025 The original wallet spent $10 in BTC, then sent the unspent funds to a new address. The $8M is a relatively small sum for the US Government, but all coin movements are watched for intentions of building a reserve of confiscated coins. The main US Government wallet still holds over $17B in crypto assets, with 198K BTC as the biggest part of the reserves. BTC funds came from ‘pig butchering’ scams The Sae-Heng wallet refers to funds confiscated for an alleged ‘pig butchering’ scam perpetrated against US victims. The funds were seized from a Binance account belonging to Wanpadet Sae-Heng. The BTC were confiscated by the US Government two years ago, when Binance sent a direct transaction to the storage wallet. All the confiscated BTC was moved once to a new address in 2022. In total, the confiscated funds from Sae-Heng included 97.33 BTC, 2.56M…
Filed under: News - @ March 27, 2025 9:23 pm