Over $4 Million in Bitcoin From the 2016 Bitfinex Hack Is On The Move
In Brief
- Over $4 million in Bitcoin from the 2016 Bitfinex Hack are on the move again.
- Hackers made away with over 119,000 BTC during the Bitfinex Hack in 2016
In a series of twenty transactions Wednesday evening, over 416 Bitcoin, worth over $4 million, was moved from a wallet associated with the 2016 Bitfinex Hack, according to Whale Alert.
Due to the transparency of the blockchain, Bitcoin transactions are visible and trackable. While all the transactions originate from the same wallet, the destination wallets are different.
This is not the first time funds from the 2016 Bitfinex hack have begun to move. The Crypto Associate reported on an earlier $275,000 Bitcoin movement of funds from the 2016 Bitfinex Hack.
Bitfinex Hack 2016
According to Coindesk, hackers made away with 119,756 Bitcoin over the course of the hack, worth some $66 million at the time. The same sum of Bitcoin is now worth over $1.1 billion.
Early last year, Bitfinex announced that the US government was able to retrieve a little over 27 BTC stolen during the hack. Bitfinex then exchanged the retrieved Bitcoin to USD, which was paid out to Recovery Right Token holders from the hack.
Bitfinex has come a long way since the hack almost four years ago. Today Bitfinex is one of the most prominent cryptocurrency exchanges taking the 5th spot in CoinMarketCap‘s exchange rating at time of press.
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