Hackers Transfer Stolen Bitfinex 20,000 Bitcoin Worth $767 Million to Unknown Wallet.
More than $767 million worth of bitcoin (BTC) stolen from popular cryptocurrency exchange Bitfinex in 2016 has been transferred to an unknown wallet.
Advanced cryptocurrency tracker Whale Alert disclosed in two tweets today that the perpetrators of the Bitfinex hack, in one single transaction, moved 20,000 units of bitcoin worth around $767M at press time in two different transactions.
⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ 10,000 #BTC (385,019,639 USD) of stolen funds transferred from Bitfinex Hack 2016 to unknown wallethttps://t.co/iLyYLoTPOQ
— Whale Alert (@whale_alert) February 1, 2022
Second transaction:
⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ 10,000 #BTC (385,019,639 USD) of stolen funds transferred from Bitfinex Hack 2016 to unknown wallethttps://t.co/SUqyq5XzJN
— Whale Alert (@whale_alert) February 1, 2022
Bitfinex Hack
The recently moved funds represent 21.97% of the total bitcoin stolen from the Hong Kong-based cryptocurrency exchange.
Recall that in 2016, hackers evaded the Bitfinex trading platform and stole a massive 119,756 bitcoins from users’ accounts. The stolen assets were worth $67.47 million at the enormous crypto heist.
However, the asset class’s value has grown significantly as the cryptocurrency continues to be adopted as a hedge against inflation, among other benefits.
Hackers’ Antic
Although the hack was carried out in 2016, the hackers have not been able to sell the bitcoin on cryptocurrency trading platforms because crypto exchanges blacklisted the attackers’ addresses and prevented them from converting the coins into fiat.
As a result of the move, the stolen funds were mainly left in the hackers’ address, with the hackers moving some units of the BTC to different unknown addresses on a few occasions.
In 2020, the attackers transferred 1,200 BTC to an unknown wallet address. However, the transfer was conducted in over four transactions, which has always been the tactic.
Bitfinex Still Poised on Recovering the Funds
Bitfinex has also not relented in its efforts to recover the stolen funds.
Two years ago, the Hong Kong-based exchange announced a reward of 30% of the total stolen funds, shared between the hackers and anyone who links up Bitfinex with the hackers.
Unfortunately, the announcement has not yielded any positive results.
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