Stolen bitcoins from Bitfinex spotted, moving on the blockchain after three years of lying dormant.

Looking at a series of transactions beginning at Friday 06:00 UTC ,172.54 BTC or about $1.37 million has moved from a wallet which had previously held funds taken in the 2016 Bitfinex hack. The theft, The lost by the theft which cost the exchange $60 million, remains unsolved.

From a Twitter handle called Whale_Alert noted the transfers this morning. They transfer continued throughout the day, ending with a $137,514 transaction at 19:47 UTC.,17.03 #BTC (137,514 USD) of stolen funds transferred from Bitfinex Hack 2016 to unknown wallet.

Hard Fork said that Bitfinex’s Leo token, which allows for the anonymous return of stolen funds stimulated this move even though the spokesperson Anneka Dew denied that the exchange was involved in the move.
“ Count us out in this as we are not involved, and the movement is not tied or accomodated to the procedure outlined in the UNUS SED LEO white paper,” she said.

Though given the anonymous nature of bitcoin wallets, as a matter of fact, these moves are the only evidence of hacker activity after the theft. They can be used for forensic analysis by blockchain sleuths but often instead this results in money laundering activity to hide the funds’ ultimate destination as against being used for forensic analysis by blockchain investigators.

The Bitfinex theft was the largest loss of bitcoins by an exchange Since the Mt. Gox hack in early 2014 which worth $350 million. The Bitfinex theft was the biggest Bitcoin loss by an exchange Commerce . The U.S. law enforcement retrieved 27.66270285 BTC which was taken from Bitfinex in February this year.


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Credits: John Biggs


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