As Wallebi previously reported, a lot of hacks and scams happened in cryptocurrency world. Cryptocurrencies worth of billion dollars stolen from exchanges and crypto wallets. Although many cryptocurrencies such as Monero provides full privacy and anonymity, other cryptocurrencies blockchain is transparent. In fact, all the transactions on the Bitcoin network is traceable. In the latest news stolen bitcoins in 2016 are on the move now.
However, the identity of Bitcoin wallets owners is unknown, all the transactions on Bitcoin blockchain are traceable. If someone steals Bitcoin from exchanges or wallets and then try to sell stolen coins on an exchange, it’s possible to identify the identity of hacker. Unlike early days, today most of the exchanges are strict about KYC/AML procedure. Everyone who wants to buy or sell Bitcoin or other cryptocurrencies has to complete KYC procedure. As a result, selling stolen cryptos is not as easy as early days. Recently, $39 million worth of bitcoin, which stolen from Bitfinex exchange in 2016 are now on the move. It means the hackers are trying to sell and convert the stolen Bitcoins into cash.
Stolen bitcoins in 2016 are on the move; hackers are using multiple transactions
It was in 2016, hackers stole roughly $1.3 billion worth of Bitcoin from Bitfinex exchange. Recently, hackers transferred around $38.7 million of stolen Bitcoins.
The total stolen Bitcoins are around 119,756 BTC and hackers are trying to sell and cash out the bitcoins by making multiple transactions on the network.
Whale Alert announced on July 27-28 on its tweeter that the wallet addresses related to Bitfinex hack are moving the stolen Bitcoins. These addresses moved 3503 BTC, which worth around $38.7 million by making over 12 transactions.
The largest and smallest individual movements are respectively 476.32 BTC and 2.612703 BTC. These amount worth of $5.2 million and $28,849.