Hackers Move $3.5 Billion In Stolen Bitcoin From Bitfinex

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Bitfinex: More than 94,000 bitcoins stolen from Bitfinex in 2016 were moved this Tuesday (1st), leaving the wallet of the authors of the cyberattack that took place six years ago to a new address. The transfers were identified by blockchain analytics firm Elliptic.

According to the company, the amount now moved from one digital wallet to another totals 94,643.29 bitcoins, equivalent to US$3.55 billion at the current price (or R$18.8 billion). Digital currencies were sent through 23 transactions generated throughout the day, one involving the transfer of 10,000 bitcoins.

The amount of transferred cryptocurrencies represents 79% of the total collected by cyber criminals in the malicious campaign directed at the exchange. In August 2016, Bitfinex was hacked by exploiting a security flaw, resulting in the theft of approximately 120,000 bitcoins, which were worth just over $71 million at the time.

The stolen crypto assets were last moved in April of last year. That month, the equivalent of more than $700 million worth of digital currencies ended up in unknown digital wallets, amid Coinbase’s debut on Nasdaq.

Constant monitoring

Since the Bitfinex hack, the amount stolen by cybercriminals has been monitored, making it possible to identify transactions like the one that just happened. Because of this, experts believe that the funds should not be withdrawn immediately, as the operation would draw the attention of the authorities.

Stolen cryptocurrencies have been laundered in recent years, according to Elliptic, using platforms like Hydra and Wasabi, which make tracking difficult. It is believed that the move will have a low risk in relation to the Bitcoin price fluctuation.

It is worth mentioning that Bitfinex has been trying to recover the digital currencies it has lost since the attack. Although it offered a $400 million bounty, the company has only managed to recover 6.5 bitcoins so far.