US Government Has Transferred Millions of Dollars’ Worth of Bitcoin and Ethereum From Its Reserve

Market intelligence platform Arkham identified this attention-grabbing Thursday transaction, which sparked speculation among market users.

The United States government has transferred millions of dollars’ worth of Bitcoin (BTC) and Ethereum (ETH) from its reserve, sparking curiosity among market participants.

Market intelligence platform Arkham identified this attention-grabbing Thursday transaction. The shift happened specifically at 17:23 (UTC) and involved Bitcoin and Ethereum—two assets mentioned in President Donald Trump’s recently created US Crypto Reserve.

Arkham’s data shows that the on-chain wallet identified as the US government shifted 97.3 BTC, worth $8.46 million, to two new wallets. Further analysis shows that the funds came from the “Sae-Heng Confiscated Funds” marked government-controlled addresses.

For perspective, the US government confiscated the funds from Wanpadet Sae Heng after allegedly defrauding residents using a pig butchering scheme. US authorities seized the funds with Binance’s aid, impounding 97.3 BTC, 884.3 ETH, 2.56 million DOGEs, and 85 million ADAs.

Most recently, the wallet moved $10 (0.00011516 BTC) to the address “bc1qs0q,” with the unspent 97.33 BTC ($8.46 million) moved to a change wallet “bc1q7qf.”

dumped a portion of the cryptocurrency assets seized from a citizen of Southeast Asia who allegedly carried out a pig slaughtering scheme.

Earlier this year, U.S. authorities confiscated cryptocurrency assets from Wanpadet Sae Heng, a citizen of Southeast Asia, who allegedly defrauded residents of the country with a pig slaughtering scheme.

According to reports by the U.S. Department of Justice (DOJ), Heng and his accomplices reportedly created fake online personas to engage with victims on social media platforms. Over a period of several years, they systematically deceived individuals, building false narratives of romance and investment opportunities.

As part of the scheme, Heng and his group reportedly induced the victims to invest in bogus cryptocurrency ventures, diverting the funds to their own accounts.

Authorities seized 97.3 Bitcoins, 884.3 ETHs, 2.56 million DOGEs, and 85 million ADAs from Heng, which were later transferred to a government-controlled address.

Later the same day, at 17:43 (UTC), the Sae-Heng-tagged US government address also transferred 88.43 ETH worth $1.77 million. Then funds went to address “0xBf7fb.”

As part of a broader effort to manage its digital assets, the US government has been actively moving funds. Two weeks ago, the address moved 299 ATOM from funds linked to Brain Krewson.

Despite the shuffle, the US government still holds 198,012 BTC, worth a staggering $17.04 billion. This is still a significant amount for its Bitcoin reserve, which it plans to fund using “budget-neutral” means.

Moreover, the Bitcoin Act is still early, proposing to buy 1 million BTC over five years. Although Senator Bernie Moreno urged the US Congress to pass the proposal before August, its feasibility remains a huge concern.

Nevertheless, the United States remains the largest sovereign holder of BTC, closely followed by China. The Royal Government of Bhutan and El Salvador occupy the third and fourth positions with 8,971 BTC and 6,129 BTC, respectively.