Hackers Transfer $12 Million From Wallets Connected To The Bitfinex Breach
Hackers Transfer $12 Million From Wallets Connected To The Bitfinex Breach
August 4, 2020
Hackers Transfer $12 Million From Wallets Connected To The Bitfinex Breach
Hackers Transfer $12 Million From Wallets Connected To The Bitfinex Breach
August 4, 2020

Hackers transferred around $12 million from wallets connected to the Bitfinex breach, in which 120,000 Bitcoin (BTC) was stolen in August 2016.

On August 3, it has been reported according to a series of tweets posted by Whale Alert that wallet addresses known to be associated with one of the largest breaches ever of a crypto exchange moved 620 Bitcoin (BTC) worth around $7 million over 4 transactions. 

On July 29, nearly $5 million or 448 BTC was moved in a single transaction.

However, coupled with the recent movement of $39 million from July 27-28, this makes approximately $51 million in Bitcoin transferred over 17 transactions within a week.

It has been analyzed that on August 2, 2016, hackers breached security at Bitfinex by stealing 119,756 BTC, $72 million at the time. After four years and recent bullish behavior, their total haul is now worth $1.3 billion.

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Despite the recent $51 million movement, those responsible for the hack have moved only 1-2% of the funds they stole.

Thus, this suggests that the criminals may be having difficulties as new anti-money laundering (AML) regulations are enforced. 

Source: Cointelegraph | Image: Bitcoin News


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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