Hackers Disregard Bitfinex Reward: BTC worth $5.8M from 2016 Hack Moved to New Crypto Wallets

It was reported that hackers who stole a $72 million from Bitfinex in 2016, have proceeded to move the $5.8 M stolen funds from new wallets.

By · Aug 18, 2020 . 5min read

Bitfinex 2016 hack

Earlier today, we noticed that hackers who stole a $72 million from Bitfinex in 2016, have proceeded to move the stolen funds from new wallets. This time they have made two transactions, totalling $5.8 mln in Bitcoin. Earlier we reported on how Bitfinex declared that it would award $400 million to recover approximately 120,000 bitcoins. In 2016, the hackers stole from its platform. Additionally, the exchange offers a reward to any person connecting them with the hackers relating to the attack. Further, it is also willing to reward hackers who stole the coins in case they return it. 

More about Bitfinex Hack

The security breach occurred on August 2, 2016. The U.S. authorities recovered 27.66270285 bitcoins last year from the hack. They were converted to U.S.D and remunerated to RTT (Recovery Right Token) holders.

Hackers moved the stolen coins to an address that anyone can follow using a standard blockchain explorer. The bitcoins didn’t move until June and August 2019. When a BTC transaction in August 2019 took place, the transaction monitoring account Whale Alert tweeted that the movement of approximately 300 BTC ($2.7M) in ten transactions. On May 21, 2020, 30 coins from the August 12, 2019 move, had been transferred once again to another hidden address. 

Analyst state that hackers were moving bitcoins to unknown address is quite similar to the activities of Plustoken Scammers. As when the prices of bitcoin and ethereum grow, the Plustoken bandits commence moving coins to different wallets.

Whale Alert also recently tweeted about the movement of about $5.5 million of stolen funds to new cryptocurrency wallet.

Conclusively, the continuous movement of coins to new crypto wallets may bring a flood of problems for Bitfinex. However, Bitfinex hasn’t found anything about the hackers stealing and moving the coins. There is an uncertainty clouding on the exchange of stolen coins. Analysts suspect that the stolen coins are probably sold using an over-the-counter (OTC) desk after being mixed. With Bitfinex announcing rewards for hackers and people finding of hackers, we hope Bitfinex establishes a solution soon.

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