Hackers Move 2500 Bitcoin Stolen From 2016 Bitfinex Hack

Digital currency tracker Whale Alerts reports that about 2,500 Bitcoins ($28 million) stolen from the 2016 Bitfinex hack has been mysteriously moved.

29 July, 2020 | AtoZ Markets – The 2016 Bitfinex hack was one of the most controversial hacks in the history of the industry, resulting in the theft of millions of dollars’ worth of cryptocurrency. The chunks of stolen have occasionally moved from their wallet to an “unknown wallet address”. This year alone, there were 35 cases where BTC moved from a wallet address containing stolen funds related to 2016 Bitfinex hack.

Stolen BTC in 2016 Bitfinex Hack Is on the Move

Hackers recently transferred about 2,500 Bitcoins ($28 million) stolen from 2016 Bitfinex hack from a wallet. Hackers transferred about $38.7 million out of $1.3B worth of Bitcoin from the wallet. Recent transactions took place in two volleys: four were worth about $5.8 million at 16:41 UTC, and five were worth about $22 million at 17:41 UTC.

On June 10, a total of 20 transactions took place worth about $149,000 to over $300,000. Hackers were transferred about $5 million worth of BTC in June and about $256K worth of BTC in May 2020.

It is unknown what is going on with these BTC. However, it’s quite possible that these BTC mixed and then liquidated via platforms on the counter, exchanges, or other venues. As a result, the price of Bitcoin may fall. Bitcoin prices have risen above the $11,400 threshold for the first time since June, surpassing $11,400 early Monday.

Despite efforts by law enforcement, the vast majority of stolen bitcoins have gone missing. But hackers sent the BTC to thousands of unused addresses which stuck for nearly three years.  US authorities recovered less than 23 BTC worth around $ 250,000.

Think we missed something? Let us know in the comment section below.

Share Your Opinion, Write a Comment