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Stolen Bitfinex Money is on the Move Again

Over the years, there have been multiple cryptocurrency hacks and thefts. Some of these ventures have been resolved successfully, whereas others go dormant and suddenly note follow-up activity. 

The year is 2016 when cryptocurrency exchange gets hacked.

Illicit Bitfinex Funds Find a new Home

During this incident, the company notes a net loss of over $72 million in Bitcoin.

Although the theft didn’t amount to much afterward, the funds were never recovered.

Earlier this week, an account moved nearly $200,000 in Bitcoin from the hacker’s wallet to a different address.

Several such transactions were completed in quick succession, adding up to nearly $4 million. 

Unlike what most people expected, the money is still sitting in the new wallets without being touched.

None of the funds have been moved to exchanges or other trading platforms at this time.

Converting stolen crypto funds to cold hard cash is a very difficult task, as the origin of the money can be traded rather easily.

It is not the first time that stolen Bitfinex funds are on the move.

Several transactions have taken place in recent months, although none of them resulted in BTC being dumped on the open market.

That situation may come to change at any given moment, however. 

Image(s): Shutterstock.com

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