Criminal Crypto Mastermind Begins Moving Stolen Bitcoin (BTC) From $72 Million Hack

The hacker behind the $ 72 million raid on the Bitfinex exchange in 2016 appears to be moving more of the stolen Bitcoin.

Whale Alert reports that the hacker’s account had moved 28.39124 BTC, worth $ 261,600, to an unknown wallet at the time of writing.

In August 2016, Bitfinex was hacked for over 119,756 BTC, accounting for about $ 72 million at the time. That same total is worth more than $ 1.1 billion today.

Last May, the infamous whale behind the attack frozen the stolen funds for the first time in three years and moved 550 BTC to 15 separate new addresses. In June, the hacker moved 172 Bitcoin in 24 hours alone and processed five separate transfers to unknown wallets, the largest of which was worth $ 640,002.

In February 2019, Bitfinex published a report stating that the US government has managed to recover only 27 BTC stolen in the hack.

Last year, the stock exchange announced that it had implemented a strategy regarding how it will attempt to recover the stolen funds. According to the white paper for its new native platform token,

“The company is working with industry leaders to create a process to allow the hacker to repay most of the stolen funds securely and privately, while keeping a percentage of them as a reward for working together to address this issue finally solve it. “

Meanwhile, crypto developers are improving ways to increase anonymity by obscuring a blockchain’s digital trail. Methods such as “mixers” and “CoinJoins“Are designed to make it more difficult for blockchain analysts to track crypto movements for legitimate parties and thieves.

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