Key Takeaways:
- A hacker drained $20M from a U.S. government-controlled crypto wallet on Oct. 24.
- The stolen funds were originally seized from the 2016 Bitfinex hack and included USDC, USDT, aUSDC, and ETH.
- The hacker has begun converting stablecoins to ETH, laundering the funds through other wallets.
On October 24, a hacker successfully breached a cryptocurrency wallet believed to be managed by the U.S. government.
The wallet contained funds originally seized in connection with the 2016 Bitfinex hack and was drained of approximately $20 million in digital assets.
๐จ๐ฃ๐๐๐ง๐: ๐จ๐ฆ ๐๐ผ๐๐ฒ๐ฟ๐ป๐บ๐ฒ๐ป๐ ๐น๐ถ๐ป๐ธ๐ฒ๐ฑ ๐ฎ๐ฑ๐ฑ๐ฟ๐ฒ๐๐ ๐ฎ๐ฝ๐ฝ๐ฒ๐ฎ๐ฟ๐ ๐๐ผ ๐ต๐ฎ๐๐ฒ ๐ฏ๐ฒ๐ฒ๐ป ๐ฐ๐ผ๐บ๐ฝ๐ฟ๐ผ๐บ๐ถ๐๐ฒ๐ฑ ๐ณ๐ผ๐ฟ $๐ฎ๐ฌ๐ .
— Arkham (@ArkhamIntel) October 24, 2024
$20M in USDC, USDT, aUSDC and ETH has been suspiciously moved from a USG-linked address 0xc9E6E51C7dA9FF1198fdC5b3369EfeDA9b19C34c toโฆ pic.twitter.com/UXn1atE1Wx
The stolen funds were transferred to a wallet starting with “0x348” and included various cryptocurrencies such as US Dollar Coin (USDC), Tether (USDT), aUSDC, and Ether (ETH).
Blockchain analysis reveals that the hacker has started converting stablecoins into ETH and is laundering the assets through wallets suspected to be linked to a money laundering service.
These assets were part of the government’s seizure related to the Bitfinex hack, a case in which Ilya Lichtenstein and his wife, Heather Morgan, are due to be sentenced in November.
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