$39M of Bitcoin Stolen in 2016 Bitfinex Hack Is on the Move


Some of the 119,756 Bitcoin that was stolen from crypto exchange Bitfinex in 2016 has started moving again. 

According to a series of tweets posted by Whale Alert on July 27-28, wallet addresses known to be associated with one of the largest breaches ever of a crypto exchange moved 3503 Bitcoin (BTC) — worth roughly $38.7 million — over 12 transactions. 

The largest individual movement was of 476.32 BTC, or approximately $5.2 million, while the smallest was 2.612703 BTC, or $28,849.

How To Get Free Crypto  

Slowly moving billions in crypto

To date, the hackers responsible for the Bitfinex breach have moved only 1-2% of the funds they stole from the exchange in August 2016. The HODLing strategy appears to be paying off as the haul was only worth $72 million at the time. It’s now worth $1.3 billion.

The potential impact of such a large number of coins dumped into the crypto market could be problematic. However, the price of Bitcoin was mostly unaffected when 50 BTC of the tokens in old addresses associated with Satoshi Nakamoto moved in May. 

The lack of movement may suggest that criminals are facing difficulties laundering digital assets as tighter regulations are enforced. Cointelegraph reported in June that 736 BTC from previous transfers from wallets associated with the hack went to the Russian darknet marketplace Hydra — and some actually ended up back at Bitfinex.

Go to Source
Author: Turner Wright

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.