When hackers stole nearly 120,000 Bitcoins from the Bitfinex exchange it was one of the world’s largest Bitcoin thefts, second only to the infamous Mt Gox heist.
Now, in a new twist to the 2016 hack which has been shrouded in mystery ever since, some of the coins have been moved.
According to tweets from Bitcoin insider Whale Alert, some $38.7 million worth of coins have been transferred out of wallets associated with the hackers.
On August 2, 2016, hackers targeted Bitfinex via a vulnerability in the way it structured its accounts and its use of BitGo, a Bitcoin wallet provider.
They escaped with 119,756 Bitcoins, which at the time were worth more than $60 million (the price of 1 BTC at the time was approximately $550).
Immediately afterwards, Twitter and Reddit were flooded with reports from individuals who had lost crypto.
Now, wallet addresses known to be associated with the hack have become active and around 12 transactions were made between July 27-28.
It is thought that prior to this movement, just 1-2% of the coins stolen in the hack have been moved – a shrewd move by the Hackers as the coins are now worth in excess of $1.2 billion.
The biggest heist in Bitcoin history happened when approximately 850,000 Bitcoins were stolen from Japanese exchange MT Gox.
At the time, the coins were worth in the region of $450 million, but they are now worth many billions of Dollars.
The theft is believed to have occurred over an extended period of time, possibly from 2011 to 2014, the point at which the exchange suddenly suspended trading and shut down, filing for bankruptcy protection at the same time.
Since the theft was discovered, in the region of 200,000 of the missing Bitcoins have since been found.
MORE NEWS & ARTICLES
- The Best Legit Faucets To Earn Free Bitcoins And Satoshi Fast In 2023
- End of An Era: CoinPot Microwallet and Bitcoin Faucets Close Down
- Man Who Threw Away $300 Million in Bitcoin Offers Huge Reward to Get It Back
- ‘Non-zero’ Crypto Addresses Surge as Institutional Investors Pile into Bitcoin
- Almost $1 billion in Bitcoin Linked to The Notorious Silk Road Website Has Just Moved
- Cuba is the New Bitcoin Hotspot as Citizens Embrace Cryptocurrency
- PayPal Embraces Bitcoin – Payment Giant to Offer Crypto Spending
- Nigeria Leads the World When it Comes to Adopting and Using Bitcoin
- Are Legions of Young People About to Pour Their Pocket Money Into Bitcoin?
- Banks Associating Bitcoin with Crime Linked to $2 Trillion in Dirty Money