Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
K33 Analysis: U.S. Bitcoin Reserves Could Decline by 30% Due to Bitfinex Case, 2026/02/26 10:25:38
The chief analyst at K33 Research, Vetle Lunde, has indicated that the Bitcoin reserve of the United States could decrease by approximately 30% following the conclusion of the legal proceedings related to the Bitfinex exchange hack.
This pertains to 94,643 BTC that were seized from Ilya Lichtenstein’s wallet. In November 2024, a federal court in the U.S. sentenced him to five years in prison for hacking and laundering the stolen funds from the exchange.
“Currently, the 94,643 BTC owned by Bitfinex account for about 30% of the strategic Bitcoin reserve of the United States, while the total reserves amount to 328,272 BTC,” Lunde noted.
Related Posts
He clarified that the executive order on crypto reserves, signed by U.S. President Donald Trump, includes a provision for returning assets to identifiable victims. The Bitcoins from the Bitfinex exchange fall under this category, as in October 2024, the exchange was recognized as the sole affected party.
However, the process is complicated by claims from third parties. Under U.S. asset forfeiture law, interested parties may assert ownership rights prior to the distribution of funds. Some claimants argue that they are victims and should receive compensation.
Representatives from Bitfinex, on the other hand, assert that many of the claims are related to balance write-offs following the hack, rather than direct ownership of the stolen assets. Until the dispute is resolved, the Bitcoins remain frozen.
Previously, blockchain investigator ZachXBT identified a cryptocurrency wallet associated with the Bitcoins seized by U.S. authorities during the investigation of the Bitfinex exchange hack.
