Some of the remaining inventory from the $ 72 million hack from crypto exchange Bitfinex in 2016 is on the move.
Earlier today, Whale Alert, which tracks major Bitcoin movements, tweeted that 28.3 Bitcoin ($ 260,000) – from a Bitfinex hack four years ago – had been transferred to an unknown wallet.
In the 2016 hack, approximately 120,000 Bitcoin were allocated from Bitfinex treasuries. At the time, Bitcoin’s price was about $ 600 – which equates to a total loss of $ 72 million. However, at current prices, the stolen funds are worth over $ 1 billion.
This is not the first time hackers have attempted to sell a portion of the Bitfinex premium. In June 2019, the attackers moved 185 Bitcoin in six separate transactions. At the time, Bitcoin was worth just over 10,000 each.
Of course – as with any major handover – the community feared the worst, with several causing an imminent mess.
“Huge mess is coming !!!” tweeted a panicky trader.
WhaleAlert recently informed us of several important transfers. On Wednesday, it pointed out that 50 Bitcoin had moved from a sleeping wallet. It was won in Bitcon’s first month of existence.
However, the tweet also suggested that it may have been Bitcoin inventor Satoshi Nakamoto who moved the coins, while analysts pointed out that this is highly unlikely.
As reported by Decrypt, as much as 15% of Bitcoin has already been sent to trade shows. The remaining coins will not be issued for the time being.