Home NewsBitcoin Massive Bitcoin Movements Unveiled: U.S. Government’s $922 Million Transfer Post-Bitfinex Hack

Massive Bitcoin Movements Unveiled: U.S. Government’s $922 Million Transfer Post-Bitfinex Hack

by dave
2 minutes read

In a stunning revelation, approximately $922 million worth of Bitcoin was recently moved from two crypto wallets associated with the infamous 2016 Bitfinex hack. This significant transaction caught the eye of crypto analysts and enthusiasts alike, sparking discussions and speculation across the digital currency community.

The movement began with a modest transaction of 1 Bitcoin, valued at $60,200, from one of the wallets on a Wednesday afternoon EST. This was quickly followed by a larger transfer of 2,817 Bitcoin, totaling around $172.74 million, to unidentified addresses. But that was just the beginning. Another wallet joined in, moving a small amount of 0.01 Bitcoin, then a whopping 12,267 Bitcoin, equating to about $748.46 million.

All told, these transactions amounted to a breathtaking $922 million shift in Bitcoin, highlighting the scale of the funds seized by the U.S. government following the Bitfinex hack. Back in 2016, this cyber heist shook the crypto world, leading to significant losses for the trading platform Bitfinex.

The drama doesn’t stop there. In August 2023, tech entrepreneur and rapper Heather Morgan, aka ‘Razzlekhan’, and her husband Ilya Lichtenstein, made headlines by pleading guilty to a money laundering conspiracy linked to this very hack. The Department of Justice has since seized around 95,000 stolen Bitcoin, underscoring the vast amount of digital assets involved.

This flurry of activity coincided with a notable surge in Bitcoin’s price, which briefly hit $64,000 on some exchanges before settling around $60,000. At the time of writing, Bitcoin’s price hovered at $61,515, reminding us of the volatile and fascinating world of cryptocurrency.

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