Even hackers want to profit from the current Bitcoin (BTC) bullish rally. Bitfinex hackers move their BTCs the very day before the price of Bitcoin hit a new ATH. Hackers are now sleeping on more than $ 2 billion in Bitcoin. It’s not easy to quietly launder a crypto in which each transaction is recorded on a ledger open to the general public.
Bitfinex’s BTC ghosts wake up
In 2016, 119,756 BTC had been stolen from the exchange Bitfinex. Tokens have been moved from wallets to wallets several times over the past few years.
The most recent move occurred on November 30, 2020. One person would have moved 270,97974 BTC from a wallet associated with the hack, which is roughly $ 5.2 million at the current price.
The balance of the address from which the BTC stolen is less than 0.001 BTC. The Bitcoins were sent to a previously unknown address, which currently only contains the amount of this transaction.
The 98% to be bleached
Hackers have reportedly moved only 1 to 2% of stolen funds in the past 4 years. This hodling strategy seems to be paying off.
The value of BTC stolen was $ 72 million at the time of the hack. It is now valued at $ 2.3 billion.
In June 2020, 736 BTC resulting from the hack had been transferred to the Russian darknet market platform Hydra.
Some tokens were reportedly returned to Bitfinex following this transfer. In July 2020, 3,503 BTC had been moved from addresses associated with the hack. In October 2020, 2,900 BTC also changed portfolio.
As for the 98% of funds stolen, some analysts suggest that hackers may have difficulty laundering assets, due to stricter regulations put in place by authorities.
Does laundering stolen crypto take longer than preparing a hack? Will hackers have no choice but to sell off unbleached stolen Bitcoins to a buyer who will take the risk of buying them off-exchange and HODler them for an indefinite period? Bitcoin could see further parabolic rises if it manages to break above $ 20,000. Enough to wake up sleeping Bitcoins and give headaches to hackers who sleep on a treasure, without being able to benefit from it.
Litecoin, welcome in the Silver Age