Bitfinex Hacker Moves $350,000 Worth Of Bitcoin To An Unknown Wallet

by Sunny Hoi

Bitcoin stolen from cryptocurrency exchange Bitfinex in 2016 has come back to the limelight since some of the crypto funds have moved to an unknown wallet.

According to Twitter-based cryptocurrency transaction monitoring resource @whale_alert, just over 30 BTC emanated from Bitfinex left its holding wallet on August 12. In other words, the unidentified hacker has abruptly transferred over $350,000 worth of Bitcoin to a new, previously unused Bitcoin address.

This move comes in second for that portion of the Bitfinex hack following it entering a preceding wallet in the course of a more significant tranche of cash in June 2019.

Back in 2016, hackers managed to successfully steal 119,756 BTC from Bitfinex. At the time, such loot added up to merely $350 million, but nowadays it’s worth more than $1.3 billion.

Before that, the Bitcoin sum had stayed dormant since the hack, which initially occurred in August 2016 and triggered a significant law enforcement initiative.

At that time, BTC/USD traded at approximately $650, with the theft rendering markets plummet nearer to $580.

Earlier this year, US law enforcement successfully retrieved a small portion of the stolen Bitcoin (27.66 BTC, which at the time was worth just over $104,000).

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