Hackers Move Another $800K in BTC Stolen From the 2016 Bitfinex Breach

By RickeBeatz | Crypto News 101 | 2 Jun 2020


Another $800,000 worth of bitcoin from the Bitfinex hack of

four years ago has been moved to an unknown wallet.

Hackers Move Another $800K in BTC Stolen From the 2016 Bitfinex Breach

Whale Alert reports that hackers transferred 77.64 bitcoin (BTC) on Tuesday, which amounts to $797,000 at the time the alert was issued.

The thieves last moved about $255,000 or 28.4 BTC on May 22, in deals that appear timed to coincide with every spike in the price of bitcoin.

BTC scaled past $10,000 on Tuesday, rising above the psychological point for the first time since the scheduled supply cut on May 11.

According to data from markets.bitcoin.com, the top cryptocurrency climbed nearly 6% in the last 24 hours amid record coronavirus spending by world governments.

Investors consider bitcoin a hedge against inflation in these uncertain times.

Hackers have chipped away at their multi-million-dollar stash since making off with 120,000 BTC from Hong Kong-based crypto exchange Bitfinex in 2016. Valued at $72 million at the time, the bitcoin is now worth over $1.2 billion at current prices.

Meanwhile, Ciphertrace said on June 2 that losses from cryptocurrency thefts, hacks, and fraud surged to nearly $1.4 billion during the first five months of this year.

In a new report, the crypto intelligence firm says it has also started to notice coronavirus-related crime that needed some form of payment using virtual currency, but similar fraud remained minimal.

Covid-19 fraud generally involved criminals luring their victims into social media groups where payment in bitcoin or other cryptocurrencies was requested, notes Ciphertrace.

Ref: https://news.bitcoin.com/hackers-move-another-800k-in-btc-stolen-from-the-2016-bitfinex-breach/

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