Blockchain monitoring firm Arkham Intelligence has reported that the U.S. government recently initiated a significant transaction, withdrawing $5.4 million from the decentralized finance ( defi) platform Aave. This transfer marks the first activity on this specific government-linked address in eight months. Arkham, known for tracking high-profile movements on the blockchain, flagged the event with an alert, stating: “Alert. [The] U.S. government just pulled out $5.4 million out of Aave. This is their first activity on this address in 8 months.” The address in question, which has historical ties to the infamous Bitfinex hacker, still holds a hefty balance of $15,271,066 as of 1:30 p.m. Eastern Time on Oct. 24. The majority of these funds are stored in various forms of USDC, a popular stablecoin and the second largest by market capitalization.
8 Months of Inactivity, Then Millions Withdrawn: What’s Going on With the US Government’s Seized Crypto?
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
But that wasn’t the only movement on the address. Following the $5.4 million transfer, the U.S. government moved an additional $1.125 million from Aave, signaling further activity from the long-dormant account. While the reasons for these transactions remain unclear, their timing and the involvement of such a significant entity have sparked widespread discussion within the crypto community.
