About $1 billion worth of Bitcoin was moved from U.S. government wallets.
Key Takeaways
- Two US government wallets transferred about $1 billion in Bitcoin seized in the Bitfinex hack.
- The transaction began with a small test transfer totaling 15,117 BTC.
- The motivation for this significant transfer remains unclear, and the U.S. Department of Justice has had no comment.
approximately $1 billion worth of Bitcoin (BTC) has been moved. From two US government cryptocurrency wallets.
In this wallet Assets Seized in Bitfinex Hacking Incident In 2016.
Did you know?
Do you want to become smarter and richer with cryptocurrency?
Subscribe – We post new cryptocurrency explainer videos every week!
According to Arkham Intelligence, the initial transaction involved a small test transfer of 1 BTC from one of the wallets.. left 2,817 BTC was soon transferred, Empty your wallet That’s roughly $173 million in Bitcoin.
Soon after, a second wallet appeared and transferred a nominal amount of 0.01 BTC, followed by the entire contents of approximately 12,300 BTC. The total value of Bitcoin transferred from the two wallets is a whopping $923 million.Considering the current market price.
that much The motive for the transaction has not yet been revealed. The U.S. Department of Justice has not yet commented on the situation.
The third cryptocurrency wallet controlled by the U.S. government includes: A much larger amount, approximately 94,600 BTCThe amount recovered from the Bitfinex hack is estimated to be around $5.79 billion.
The Bitfinex hack remains a mainstay of cryptocurrency knowledge. As well as the sheer volume of stolen BTC, the individuals involved, Heather “Razzlekhan” Morgan and Ilya Lichtenstein, have been likened to “Bitcoin’s Bonnie and Clyde.” The couple’s story will take center stage in the upcoming Amazon film ‘Razl Khan’.
While the purpose of these transactions remains unclear, they represent a pivotal moment in the ongoing story of cryptocurrency regulation and the aftermath of one of the industry’s most serious security breaches.
The activity unfolded against the backdrop of a particularly volatile day in cryptocurrency markets, with the value of Bitcoin surging past $60,000, its highest since November 2021.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
With nearly 10 years of experience in the fintech industry, Aaron understands all of the biggest issues and challenges cryptocurrency enthusiasts face. He is a passionate analyst with an interest in data-driven and fact-based content, as well as content targeting both Web3 native users and industry newcomers.
Aaron is our go-to guy for all things digital currency. With a huge passion for blockchain and Web3 education, Aaron is working to transform the space as we know it and make it more accessible to complete beginners.
Aaron has been quoted in several popular media outlets and is a published author himself. In his spare time, he enjoys researching market trends and looking for the next supernova.
