Over 64,000 Stolen Bitcoins Moved To Unknown Wallets

Bitcoin thief from Bitfinex transferred BTC to another wallet. (otcpm24)

JAKARTA – Hackers who have stolen Bitcoin stolen from Bitfinex in 2016 are reportedly starting to move their BTC holdings to other crypto wallets. At that time, the BTC he stole was worth 2.4 billion US dollars (equivalent to IDR 34.4 trillion). Currently, the value of Bitcoin has grown to 3.6 billion US dollars (about IDR 51.6 trillion).

According to a report by The Daily Hodl, from crypto transaction monitor Whale Alert, hackers have moved more than 64,000 BTC in 21 separate transactions. The first transfer was 1 BTC worth 38,750 US dollars at the time, perhaps this was done as a trial transaction.

The hacker then makes subsequent transfers of varying amounts. The largest transfer detected was 10,000 BTC, which was sent six times, while the smallest was 0.29 BTC.

The perpetrator transferred a total of 64,643.29 BTC worth 2.47 billion US dollars (or 35.4 trillion) at the current price. The addresses to which the bitcoins are being sent currently have a total of 94,643.29 BTC, worth approximately US$3.6 billion.

Biggest Crypto Theft

The Bitfinex hack is considered to be one of the biggest crypto hacks to date. Crypto exchange Bitfinex has lost a total of 119,756 BTC in a security breach on August 2, 2016.

Bitfinex has compensated the losses incurred on all user accounts at that time and compensated affected customers with one BFX token per every dollar lost. These tokens can be exchanged for dollars or company shares.

The hackers waited for three years before they started transferring the stolen funds. Then in June 2020, they moved another 416 BTC worth around US$4 million at the time.

The last time hackers transferred stolen funds was during the April 2021 bull run, transferring assets worth more than 700 million US dollars to an unknown wallet address.

Recently a hacker made a shipment of his stolen BTC. The amount of bitcoins transferred by hackers earlier today has amounted to more than 50 percent of the estimated 119,756 BTC stolen from Bitfinex in 2016.

Hackers Will Not Be Able To Cash Out Bitcoin

The hackers are considered to be very difficult to sell their Bitcoins to be liquidated on crypto exchanges. The reason is that most of the Bitcoins associated with the theft are being tracked and have been blacklisted. A number of market watchers have speculated that players may want to manipulate the market by moving large amounts of bitcoin at this time.