The U.S. government has transferred approximately $606,000 in bitcoin, specifically 8 BTC, linked to the notorious 2016 Bitfinex hack, to Coinbase Prime. This transfer is part of a federal mandate requiring the return of seized assets to Bitfinex rather than selling them for U.S. Treasury funds. The exchange plans to utilize these funds to redeem Recovery Right Tokens, which are digital claims for customers who suffered losses during the hack, and intends to allocate at least 80% of the remaining proceeds to repurchase and burn its UNUS SED LEO token. The hack, executed by Ilya Lichtenstein, involved the fraudulent transfer of 119,756 BTC, which was worth around $72 million at the time but is now valued at approximately $8.9 billion. Following years of investigations, a portion of the stolen bitcoin was seized in 2022, and Lichtenstein was sentenced to 60 months in federal prison. The U.S. government currently holds bitcoin valued at about $24.54 billion, part of a national strategic reserve.