Part Of Nearly 130,000 BTC Stolen In 2016 Bitfinex Hack Just Transferred To Anonymous Wallet

Arman Shirinyan

Large part of stolen money now on the move for the first time since April 2021


$760 million transactionsCan it affect the market?

About $5 billion worth of Bitcoin stolen in the 2016 Bitfinex hack was moved by hackers to an unknown wallet in two 10,000 BTC transactions, according to Whale Alert tracking service.

$760 million transactions

As on-chain data suggests, the first trade was made at 04:00 UTC. In total, $383 million worth of Bitcoin was sent to an anonymous wallet that ended with “uxwczt”. It has not yet determined whether the wallet is owned by an exchange or an OTC desk, but it has been continuously receiving smaller amounts of BTC since 2016.

The second major transaction was made shortly afterwards when hackers moved the exact same amount of money to the same address that previously received another 10,000 BTC.

According to the transaction page of the “Bitfinex hack wallet”, exploiters have already moved a similar amount of money in April 2021. At that time, $623 million worth of Bitcoin was moved to an unknown wallet.

Can it affect the market?

The large transaction to an unknown wallet is most likely not the last step in the hacker’s withdrawal of funds in USD or another fiat currency. Since the daily volume of the Bitcoin-related trading market currently stands at about $1.5 trillion (including derivatives), the $760 million moved by hackers should not have a significant impact on the market.

In the event that hackers split the sum into smaller portions, the Bitcoin spot market would fail to notice the effect of increased selling pressure. At the time of writing, Bitcoin is trading at $38,336 without any significant negative price performance. As for the stolen money, 20,000 BTC remains in the “uxwczt” wallet.

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