New movements for Bitcoins coming from the Bitfinex hack in 2016.

This was revealed by the Twitter account Whale Alert. Summary • The movements of the Bitcoins stolen in the Bitfinex hack • The Bitfinex hack The movements of the Bitcoins stolen in the Bitfinex hack

According to Whale Alert reports, there have been numerous movements of Bitcoin stolen from Bitfinex in the 2016 hack. They occurred on February 1st. Several transactions were made, some very important: in at least 6 cases 10,000 BTC were transferred. In total, at least 64,000 BTC moved for a total of over $ 2.4 billion, according to Whale Alert. The singular thing is that all the movements are directed to an address that has 26 transactions and a balance of over 94,000 BTC, which translated into dollars, makes 3.6 billion dollars. In short, it is a whale. The equally unique thing is that there are never any outgoing movements and that the wallet records movements only starting from February 1st, therefore it is an account opened rather recently. How should all this be interpreted? It is unlikely that those BTCs will be offered for sale since the address is now monitored and it would certainly be difficult to place them on an exchange, at least not on a centralized exchange. With the Bitfinex hack, 119,756 BTC were stolen

The Bitfinex hack

Bitfinex was hacked in August 2016. The theft led to a loss of 119,756 BTC which is now worth 4.5 billion dollars. Therefore, the movements recorded yesterday involved half of the Bitcoins stolen by criminals from the exchange. It is certainly not the first time that those BTCs have been moved. It had already happened before, for example in 2019 27 BTC were moved and in 2020 5.6 BTC changed their wallet. Other times, part of the loot has been recovered. In fact, in December 2021, 6.5 BTC were recovered and moved to the Poloniex exchange. The exchange has clearly blocked the sum by detecting the origin of a wallet involved in the theft, and returned them to Bitfinex. In 2019, however, thanks to the collaboration of the US government, 27.6 BTC were recovered. However, much of the stolen goods are still in the hands of criminals. It is a sum capable of moving the markets and perhaps alarming investors. But, as mentioned, it will be difficult to sell them through centralized exchanges. Perhaps this is also why Bitcoin was not affected by the news and its price remained stable at $ 38,200. From Bitfinex they let it be known that they will continue to collaborate with the authorities: "Bitfinex continues to work globally with law enforcement, digital token exchanges and wallet providers to recover the bitcoin stolen in the 2016 hack."

Eleonora Spanish Journalist with a passion for the web and the digital world. She graduated with honors in Multimedia Publishing from the La Sapienza University of Rome and attended a master's degree in Web and Social Media Marketing. RELATED POSTS MORE FROM AUTHOR