Hacker Steals Over $20 Million in Crypto from U.S. Government Wallet

A significant security breach has raised alarms in the crypto community, as a hacker reportedly stole over $20 million in digital assets from a U.S. government-controlled wallet linked to the notorious 2016 Bitfinex hack.

On October 24, suspicious transfers began, with blockchain analysts, including ZachXBT, labeling the transactions as “nefarious.” The wallet, dormant for eight months, suddenly transferred $1.25 million in Tether (USDT) and $5.5 million in USD Coin (USDC) from the DeFi platform Aave.

Additionally, around $13.7 million in aUSDC, an interest-bearing token tied to USDC deposits, along with $446,000 in Ethereum, was moved to a newly created wallet. This wallet, established just days prior, has raised further suspicions regarding the legitimacy of the transactions.

The seized funds had originally been taken as part of the investigation into the 2016 Bitfinex hack, which resulted in the theft of over $3.6 billion in digital assets. Following the government seizure, the wallet saw an influx of crypto assets.

Subsequent analysis revealed that roughly $320,000 worth of Ethereum was sent to various exchanges, while another $80,000 was distributed among smaller wallets, amplifying concerns about the potential for money laundering.

As of now, the Department of Justice has not released any statements regarding the incident, leaving analysts and blockchain experts to closely monitor the situation as it develops. The investigation into this major breach continues.#BTCMiningDifficultyRecord #ETHBTCNewLow #CryptoPreUSElection #USJoblessClaimsDip #Write2Earn!