Fun

Hacker from the 2016 Bitfinex Breach Transfers $21M Worth of Bitcoin to Unknown Wallets

News Feed - 2020-10-09 04:10:37

Hacker from the 2016 Bitfinex Breach Transfers $21M Worth of Bitcoin to Unknown Wallets


On Wednesday morning (ET), around 2,034 BTC ($21.6 million) from the 2016 Bitfinex hack moved into a few unknown wallets. The action was caught by the Btcparser program as five transactions with around 400 BTC each moved for the first time in four years.


On August 2, 2016, the popular digital currency exchange Bitfinex was hacked for 119,756 BTC which is around $1.2 billion in bitcoin using today’s exchange rates. The hacker was able to swipe roughly 18% of what was stolen from Mt Gox a few years prior.


Most of the stolen bitcoins sat idle for a little less than four years, but in 2020 the hacker has been moving lots of coins in batches. The last time news.Bitcoin.com reported on the Bitfinex hack coins moving was at the end of July when the individual moved around 2,500 stolen bitcoins ($28 million) from the 2016 Bitfinex breach.


At the time of the July 2,500-coin move, BTC was swapping for $10,350 per coin. On October 7, 2020, another 2,034 coins moved from five different wallet locations. The coins moved on Wednesday are worth roughly $21.6 million and the five transactions were caught by the blockchain parser Btcparcer.com.


The first move saw 389.94 BTC transferred and then another 400 BTC was transferred22 minutes later. A minute after that, the Bitfinex hacker sent 399.31 BTC to an unknown wallet. The last two transactions stemming from the Bitfinex hacker took place in a ten-minute time span following the third transfer.


When the funds were originally stolen, the stash was worth between $66 to $72 million using 2016 exchange rates. Unlike Mt Gox, Bitfinex survived the loss and it paid customers back by creating one of the first exchange-backed tokens.


The recent $21.6 million worth of transfers follow the exchange offering a bounty for those who help catch the Bitfinex hackers. During the first week of August 2020, Bitfinex offered rewards up to $400 million for information concerning the malicious actors who attacked the exchange.


The news of the Bitfinex hack bitcoins on the move, also follows the recent and massive outflow of BTC from Bitmex that was transferred to exchanges like Binance, Gemini, and Kraken. The onchain data and analysis web portal Cryptoquant has also shown “unusual miner outflows” on Wednesday afternoon as well.


Cryptoquant’s alerts channel noted, “aggregated outflows from multiple miners” including a small mining operation and the mining pool Btc.top. The 2,034 BTC transferred stemming from the 2016 Bitfinex hack just adds more leeriness to the unusual onchain activity.


What do you think about the $21 million worth of bitcoins from the 2016 Bitfinex hack moving on Wednesday? Let us know what you think in the comments section below.Square"s Major Bitcoin Buy: Puts 1% of Total Assets Worth $50 Million in BTCNEWS | 9 hours agoChina"s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So FarNEWS | 24 hours agoTags in this story$21.6M, 119000 BTC, 2016 Hack, 2034 BTC, 21 million, August 2 2016, Bitcoin, Bitcoins, BitFinex, Bitfinex Breach, Bitfinex Hack, bounty, BTC, Crypto, Exchange Backed Coin, Hackers, Mt Gox, Unusual Transaction, Unusual Transfer


Image Credits: Shutterstock, Pixabay, Wiki CommonsPurchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimerShow comments

News Feed

Report: Blockchain Among Technologies to Be Prioritized by Saudi Arabia’s IT Decision Makers in 2022
Report: Blockchain Among Technologies to Be Prioritized by Saudi Arabia"s IT Decision Makers in 2022 Blockchain is among six emerging technologies that will be prioritized by the K
Biden family memecoins tank 60% after Biden exits presidential race
Brayden Lindrea8 hours agoBiden family memecoins tank 60% after Biden exits presidential raceMemecoins linked to Joe, Jill, and Hunter Biden tanked more than 60% while a memecoin tied to US Vice President Kamala Harris r
Tristan Greene3 hours agoAnthropic launches Claude 2 amid continuing AI hullabalooThe new model demonstrates measurable improvements across numerous categories, including near-instant query response times and the ability
Bitcoin Signals Strength As Long-Term Holder Realized Cap Surges Past $20 Billion – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Tom Mitchelhill7 hours agoFriend.tech denies report that database of over 100K users was leakedFriend.tech has hit back at a report that suggested that its API leaked personal data of its users.1472 Total views9 Total sh
Central Bank of Colombia Announces First Blockchain Bond Pilot Program
Central Bank of Colombia Announces First Blockchain Bond Pilot Program The Central Bank of Colombia has announced its involvement in the first blockchain bond pi
Namibian Central Bank Announces Plan to Launch CBDC
Namibian Central Bank Announces Plan to Launch CBDC Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digi
Diamond hands: Mt. Gox creditors hodl Bitcoin despite 10-year wait
Francisco Rodrigues10 hours agoDiamond hands: Mt. Gox creditors hodl Bitcoin despite 10-year waitMt. Gox creditors defy expectations by holding onto their Bitcoin despite a decade-long wait to get their hands on it.3530
Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs
Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs While the crypto economy has shed more than 3% in fiat value during the last
Avid Gamers Set to Own Lands as Metagods Announces Land Sale
Avid Gamers Set to Own Lands as Metagods Announces Land Sale press release PRESS RELEASE. MetaGods, the world’s first play-to-earn 8-bit action role-playing game built on the
Prashant Jha12 hours agoReddit removes moderators involved in alleged insider trading of MOON tokensOn Oct. 18, Reddit closed its blockchain-based points program that involved the use of certain crypto tokens native to s
ECB Favors Transparency Over Privacy in Digital Euro Design, Presentation Reveals
ECB Favors Transparency Over Privacy in Digital Euro Design, Presentation Reveals The European Central Bank (ECB) leans toward a “transparent” digital euro over one t