Fraud and Scams, News & Updates

Bitfinex System Hacked! – $21M in Bitcoin Distributed to Unspecified Wallets

On Wednesday morning, around 2,034 BTC ($21.6M) from the 2016 Bitfinex hack had transferred into a few unidentified wallets.

The action was wedged by the Btcparser program for five transactions, with around 400 BTC each has moved for the first time in four years.

Back on August 2, 2016, the popular digital currency exchange Bitfinex was hacked and has lost an amount of 119,756BTC, which is amounting to $1.2B in Bitcoin when using today’s exchange rates. The hacker was then able to steal roughly 18% of what has been stolen from Mt. Gox for the next few years.

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 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.

Some of the stolen bitcoins sat idly for a little less than four years; however, in 2020, the hacker has successfully moved lots of coins in batches. Last time, it was reported that the hacked coins moved by the end of July when the individuals have moved around 2,500 stolen BTC ($28M) from the 2016 Bitfinex breach.

On October 7, 2020, an additional 2,034 coins have moved from five diverse wallet locations. The coins that moved on Wednesday are worth unequally to $21.6 million, and the blockchain parser wedged the five transactions.

When the funds were initially stolen, the supply was $66 to $72M using 2016 exchange rates. Unlike Mt. Gox, Bitfinex survived the loss, and it paid customers back by generating one of the first exchange-backed tokens.

The new $21.6M worth of allocations follow the exchange contributing a bounty for those who will help seize the Bitfinex hackers. By the first week of August 2020, Bitfinex has offered rewards amounting to $400M for the information that concerns the hateful actors who have attacked the exchange.

The news that the Bitfinex hack bitcoins are on the move has also followed the recent and massive discharge of BTC from Bitmex that has been transferred to the exchanges like Binance, Gemini, and Kraken. The on-chain data and analysis web portal Cryptoquant had also shown the “unusual miner outflows” on Wednesday afternoon.

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