A wallet linked to the US government moved 12,267.02 BTC, worth about $1.01 billion, on October 8. The coins eventually landed in Coinbase deposit addresses.

Arkham Intelligence identified the source wallet as tied to the government’s seizure from the 2016 Bitfinex hack. That case remains one of the largest crypto recoveries tied to a single theft.

The coins did not travel straight to Coinbase. They first hopped through a series of unlabeled addresses before reaching deposits that Arkham tags as belonging to the exchange.

Those destination addresses connect to Coinbase Prime, the exchange’s platform used mainly for institutional custody.

The October 8 move was the biggest piece of a wider pattern. Between October 6 and 8, government-linked…