Hacked Bitcoin From Bitfinex Worth $28 Million On The Move Again

The hacked Bitcoin from Bitfinex worth $28 million from 2016 started moving again to several unidentified addresses yesterday as per the WhaleAlert reports that we have in our Bitcoin latest news today.

Little over than 2550 Bitcoin worth $27.7 million stolen in the 2016 Bitfinex hack, moved yesterday according to Whale Alert, and the funds were sent as Bitcoin’s price skyrocketed to break the $11,000 price point. The two Bitfinex hacks were some of the biggest Bitcoin scams and hacks of all time and also back in 2015 the customers lost more than 1500 BTC. In 2016, a second hack happened and the attackers gathered 120,000 BTC which is nearly $73 million, with today’s worth of $1.3 billion. Part of the cache was just moved today as the hacked Bitcoins from the exchange. A day ago, 2550 BTC was moved in nine transactions to different addresses all of which are described as “unknown”.

⚠ 476.32 #BTC (5,147,316 USD) of stolen funds transferred from Bitfinex Hack 2016 to unknown wallet

Tx: https://t.co/2kqzfoYIA1

— Whale Alert (@whale_alert) July 27, 2020

This is not the first time the funds from the exchange started moving as in May, Whale Alert tweeted about 28.3 bitcoins originating from one of the biggest Bitfinex hacks had been transferred to an unknown wallet as the hackers later moved another $4 million worth of Bitcoin and transferred 185 Bitcoin in June and 300 in August. The hackers moved the funds on the same day when Bitcoin surged and caught everyone’s attention maybe because they hoped to stay under the radar or that a higher price will motivate them to cash out more.

A few days ago we reported that $5 million in BTC were just moved recently from the Bitfinex hack. While finding the stolen money during bank heists can be hard to trace, when it comes to crypto hacks it’s a completely different story. Hackers usually use mixing and privacy technologies as the coins they steal from exchanges and people can be tracked through the blockchain. This was shown to be the case with the BTC stolen from the Bitfinex 2016 hack. According to Whale Alert, the advanced blockchain tracker, two transactions $5 million in BTC were transferred from addresses affiliated with the hack from 2016.

The Bitfinex hack has been one of the most prominent crypto cybercrimes in recent years. It took a dramatic turn on June 23, when two Israeli brothers were jailed in connection with the 2016 Bitfinex hack as well as other phishing attacks.