Sani, a researcher and owner of timechainindex.com, designed an interactive platform meticulously documenting the timeline of U.S. government-seized bitcoin, leveraging onchain data to trace its accumulation and custodial history. The portal offers granular insights into how federal agencies have managed these holdings, reframing public understanding of crypto asset governance.
Timechainindex Founder Decodes the Seizures: A Timeline of U.S. Government Bitcoin Forfeitures
Over time, the U.S. government has accumulated a substantial trove of bitcoin through asset seizures tied to cybercrimes and illicit financial operations, most notably those linked to the Silk Road darknet marketplace (DNM) and the 2016 Bitfinex exchange breach. In a post on the social media platform X, timechainindex.com founder Sani detailed that federal authorities have taken possession of 394,759 BTC.
“To date, the government has confiscated a total of 394,759 BTC, of which 195,586 BTC has been auctioned or sold, generating approximately $2.61 billion in proceeds,” Sani wrote on X.
He added:
However, the missed profits from these sales amount to a staggering $14.82 billion based on current valuations.
Sani’s webpage titled: U.S. Gov Bitcoin Holdings (usg.timechainindex.com) shows the FBI’s retrieval of 94,643.66 BTC from the 2016 Bitfinex hack, an amount that remains entirely within federal custody. Similarly, assets confiscated from an individual linked to Silk Road total 69,370.18 BTC, none of which has been sold or auctioned. Another tranche of 15,085.22 BTC, traced to a Bitfinex hacker, remains largely untouched, apart from a negligible auction of 0.0033 BTC.
The Department of Justice’s Silk Road-related seizures amount to 49,849.04 BTC, with 40,049.05 BTC already auctioned, leaving a balance of 9,799.99 BTC. Meanwhile, a separate Bitfinex hacker forfeited 4,872.49 BTC, with only 2.44 BTC auctioned, bringing the remaining sum to 4,870.05 BTC. Ryan Farace, convicted for his involvement in an illicit drug operation, saw 2,933.65 BTC seized, of which 58.74 BTC was auctioned, leaving authorities in possession of 2,874.90 BTC.
Authorities also took control of 3,092.80 BTC from Potapenko and Turogin, two individuals implicated in fraudulent activity, auctioning 1,361.30 BTC while holding onto 1,731.50 BTC. In the FTX-Alameda case, officials confiscated 682.33 BTC, none of which has been sold. Similarly, 97.34 BTC seized from an entity named Sae-Heng remains largely intact, apart from a minuscule sale of 0.00009 BTC.
Further seizures include 23.66 BTC from Shakeeb Ahmed, with 7.50 BTC auctioned and 16.16 BTC still retained. Ross Ulbricht, the founder of Silk Road, forfeited 144,343.55 BTC, nearly all of which—144,342.31 BTC—has been liquidated, leaving only 1.23 BTC. Meanwhile, 0.33 BTC linked to Miguel Villanueva remains unsold, and the DarkSide ransomware group’s 69.61 BTC seizure resulted in the auction of 69.60 BTC, leaving behind a mere 0.00099 BTC.
Authorities also seized 1,896.44 BTC from Alexandre Cazes, a figure associated with the Alphabay darknet market, with nearly the entire sum sold, leaving only 0.00003 BTC. Various other seizures contributed an additional 1,967.43 BTC, of which only 0.000006 BTC remains. Notably, Banmeet Singh forfeited 3,940.28 BTC, Gery Shanlon 203.95 BTC, Edward Cantor 24.00 BTC, James Zhong—linked to a Silk Road hack—1,501.23 BTC, and Gary Harmon 161.61 BTC, all of which have been fully auctioned.
Finally, Gaurang S. Sharma had 0.50 BTC seized, with the entire amount auctioned, marking the conclusion of an extensive series of bitcoin confiscations carried out by U.S. law enforcement. Sani’s website indicates that as of press time at 9 a.m. ET on Mar. 7, 2025, the U.S. government retains custody of 199,172.91088933 BTC, carrying an estimated valuation of $17.87 billion.