Bitcoin Stolen From Bitfinex Hack Moved For The First Time In Five Years

2022-2-2 20:00

The Bitfinex hack had been one of the most popular hacks when it occurred. At that point, bitcoin was still in its very early stages and was still reeling from the Mt Gox shutdown even years later. When the hack occurred, the attackers had made off with 119,756 BTC successfully. They had moved out of the stash gradually over time but recently, the biggest move from the hackers came when they moved $3.8 billion worth of bitcoin.

Hackers Move 10,000 BTC

The Bitfinex hackers have moved 10,000 BTC from a stash that has been there since 2016. There have been BTC moved from the wallets previously but this qualifies as the highest in terms of dollar value that have left the account.

Related Reading | Bitcoin Bears To Resume Assault? Why BTC Could Crash To $33K

This move was reported by Whale Alert, a bot that tracks transactions on the blockchain and reports when large transactions are triggered. The total value of the bitcoin that the Bitfinex attackers moved came out to be almost $4 billion.

As for the rest of the stash, the bitcoins still remain in the wallet that they were transferred to following the hack. Although the wallet is essentially ‘tagged’, there have been new developments in the space that could essentially help the hackers ‘clean’ the stolen BTC and be able to spend it without worrying about being traced.

Recently, hackers have been using platforms like Tornado Cash to get rid of the ‘dirty’ cryptocurrencies that they steal from crypto projects. It is unclear where the Bitfinex hackers are sending the BTC as it is still an unknown wallet.

BTC Price Ready To Tank?

Bitcoin’s price has done exponentially well compared to where it was in 2016. Around the time when the Bitfinex hack occurred, the price of BTC was still trading under $300. Now, a single bitcoin is trading at $38,000, greatly increasing the value of the stolen bitcoin.

Related Reading | Bitcoin On Its Way To $500,000? Anthony Scaramucci Explains How

The price of the digital asset which peaked at $69,000 has helped the value of the BTC. However, the hackers continue to hold most of the bitcoin in the wallet, presumably unable to spend it.

BTC trending at mid-$38,000 | Source: BTCUSD on TradingView.com

It is expected that if the attackers are able to dump all of their bitcoin on the market, then it could adversely affect the direction of the cryptocurrency in terms of price. With the Mt Gox compensations coming up and decisions from the Fed, BTC and the crypto market could be gearing up for further downside. But for now, the price of bitcoin is holding up at $38,300.

Featured image from Daily Advent, chart from TradingView.com

Similar to Notcoin - Blum - Airdrops In 2024

origin »

BitFinex Tokens (BFX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 BFX

hack when bitcoin had years bitfinex still

hack when → Результатов: 95


Фото:

$3.6 Billion: These South African Brothers May Have Just Pulled Off One Of The Biggest-Ever Bitcoin Heists

Ameer and Raees Cajee, co-founders of South African crypto investment platform Africrypt have reportedly disappeared with about 69,000 BTC valued at $3.6 billion amid the April rally. Notably, the siblings first raised suspicion earlier this year when they claimed that their firm had been the victim of a hack in April. The suspicions deepened when […]

2021-6-25 23:24


Foxconn Ransomware Attackers Demanded $35 Million Payment In Bitcoin (BTC) to Decrypt Files

According to reports from BleepingComputer, Foxconn, one of the largest electronic companies in the world, was faced with a ransomware attack by a popular hacking group, DopperPaymer. The report confirms the hack was first noticed on November 29th when the hackers gave the company 3 days to make a ransom payment to an unknown wallet […] The post Foxconn Ransomware Attackers Demanded Million Payment In Bitcoin (BTC) to Decrypt Files first appeared on BitcoinExchangeGuide.

2020-12-9 21:19


Фото:

Former Uber CSO Tried To Cover Up 2016 Hack By Paying $100k In Bitcoin To The Hackers

Uber’s former Chief Security Officer is currently at odds with the law after the authorities found out about what he did while working for the ride-hailing company back in 2016. Apparently, Joseph Sullivan decided to not involve the authorities when Uber was hacked and the criminals demanded $100,000 in Bitcoin. The then CSO is alleged […]

2020-8-21 19:21


Coinbase being targeted by ‘unique attack’ highlights how serious attackers are about the cryptospace, claims CISO Martin

Philip Martin, Chief Information Security Officer at Coinbase, recently spoke about a hack which the exchange successfully managed to evade. According to Coinbase, the highly sophisticated attack began on 30 May, when a dozen Coinbase employees received an email for a certain Gregory Harris, who was supposedly a Research Grants Administrator at Cambridge University.

2019-8-11 13:00


Binance KYC Hack: CZ Denies That Scammers Stole Thousands Of Users Data

Reports have been going around that the Binance Crypto exchange was allegedly hacked as “Thousands of KYC users data” were on Telegram messenger. The solicitude of the major exchange users occurred when the photos of passports and identity cards allegedly owned by Binance users appeared on the Telegram channel named “FIND YOUR BINANCE KYC”.

2019-8-8 14:20


How an engineer at a crypto-security startup lost $100K in a SIM-swapping hack

Nobody is immune to SIM-swapping attacks – and one engineering lead at a cryptocurrency security startup had to learn this lesson the hard way. In a blog post, Sean Coonce, engineering manager at security-oriented cryptocurrency startup BitGo, has detailed how he lost $100,000 in an unfortunate SIM-swapping hack, which saw his entire Coinbase balance drained.

2019-5-21 13:23


Inside the Binance and Bitcoin Blockchain Reorg Drama: Random Tweet Stirs Up Community Frenzy

When Binance revealed that somewhere in the region of $40 million dollars worth of Bitcoin was stolen from them, it caused the usual reactions from the community. News articles were written Binance's security was questioned, but overall it was just another hack – and not even a significant one compared to some in the past. […]

2019-5-10 02:02


Hack: Cryptocurrency Trends & Predictions for 2019

In 2009, when Satoshi Nakamoto invented a new age digital currency by writing the code for the first ever cryptocurrency termed as Bitcoin, the entire world was perplexed of its acceptance. Followed by the emergence of many other new cryptocurrencies since last 10 years, this form of digital money has witnessed diverse eye-popping incidents including […] The post Hack: Cryptocurrency Trends & Predictions for 2019 appeared first on ZyCrypto.

2019-1-14 22:29