Bitfinex hackers move more than $27 million tied to 2016 attack


Whale Alert, a Twitter-based tracker of large cryptocurrency transactions, reported nine transfers of funds tied to the 2016 hack of cryptocurrency exchange Bitfinex.

Bitfinex was hacked in August 2016, and the security breach resulted in the theft of almost 120,000 BTC — an amount valued at $72 million at then-current prices. The exchange later moved to socialize that loss among its user base and create a token to as a means to reimburse those affected. Bitfinex bought back the last of the so-called BFX tokens in April 2017.

Since the hack, blockchain sleuths have tracked the movement of the stolen coins. On Monday, four Whale Alert pings were posted at 12:41 p.m. ET after a combined 531.93 BTC (approximately $5.76 million) was transferred.

Over an hour later, at 1:49 p.m. ET, Whale Alert posted five more alerts for transactions totaling 2018.69 BTC (approximately $21.98 million).

As reported by Whale Alert, two fund transfers totaling nearly $5 million in BTC at then-current prices were moved on June 24.

June 10 saw a total of 20 transactions take place, in amounts ranging from about $149,000 to more than $300,000.

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC