$100M of Bitfinex’s Stolen Bitcoin Is in Transit

$100M of Bitfinex’s Stolen Bitcoin Is in Transit

Hackers responsible for a 2016 Bitfinex theft moved close to $100 million of Bitcoin today after crypto prices reached an all-time high.

Nearly $100 Million Moved

The hackers responsible for this transfer stole a total of 120,000 BTC from Bitfinex in August 2016. At the time, the British Virgin Island-based exchange lost $72 million in the hack.

At 2 pm ET on Nov. 30, the hackers moved 5018.48 BTC (4.1% of the original theft) in a series of transactions. The value of those funds is about $100 million at Bitcoin’s current price.

The transfer was carried out over fourteen transactions of less than 500 BTC each, according to data analytics website Whale Alert. It is not clear where the funds were sent, but the movement was likely part of an attempt to cash out the stolen coins.

Stolen Bitcoin Incites Sell-off Fears

The stolen funds have been moving frequently. One movement took place just weeks ago: on Oct. 07, the hackers moved close to 2500 BTC in a similar fashion. Before that, the US government recovered a small portion of the stolen funds (28 BTC) in February 2019. Read More