The US government has moved $74 million worth of confiscated bitcoins.
667 BTC seized from Estonian crypto service HashFlare three years ago have been moved to a separate wallet. 
The US government moved 667 bitcoins (worth approximately $74 million) to a separate wallet, according to Arkham. These coins are related to the case against the Estonian cloud mining service HashFlare.
The transferred bitcoins were confiscated three years ago. According to a note from analysts at “Potapenko/Turogin Seized Funds,” they are linked to the case against Sergey Potapenko and Ivan Turygin, founders of the cloud mining platform HashFlare and the digital bank Polybius Bank. US authorities charged them with $575 million in cryptocurrency fraud and money laundering.
Turygin and Potapenko, both Estonian citizens, were arrested in November 2022. Their extradition to the United States was approved in January 2024. In February of this year, they pleaded guilty to conspiracy to commit fraud and agreed to forfeit $400 million in assets, which would then be used to compensate victims.
rbc.group
In August of this year, a US court sentenced them to the 16 months they had already served pending trial, fined $25,000, and ordered community service. They were expected to return to Estonia. However, the prosecutor's office later appealed, insisting on 10 years in prison.
After moving 667 bitcoins, HashFlare leaves approximately $22.8 billion worth of cryptocurrency in the balances of the former US government wallets. Of this, $22 billion is in bitcoin (197,354 BTC).
In March 2025, US President Donald Trump signed an executive order establishing the Strategic Bitcoin Reserve—a national Bitcoin reserve to be formed from confiscated cryptocurrencies. In August, US Treasury Secretary Scott Bessent confirmed that the government intended to use only confiscated digital assets for the reserve, estimating their value at $15–20 billion. According to Bessent, the government had no plans to sell them.
The audit of federal agencies' crypto assets, which will form the core of the reserve, was scheduled for April 5, 2025. As of late September, the audit of the US Strategic Bitcoin Reserve had not yet been conducted.
Galaxy Digital's head of research, Alex Thorne, pointed out back in the spring that at least 112,000 BTC of the assets confiscated by the US belong to the crypto exchange Bitfinex. They are slated for return by court order.
Source: cryptonews.net
