Hackers Move $255,863 in Bitcoin from Bitfinex Hack in 2016

Fri, 05/22/2020 - 08:04
Yuri Molchan
The hackers who attacked Bitfinex in 2016 and stole $72 mln in BTC, have transferred part of the funds they grabbed in this hack - $255,863 in Bitcoin
Cover image via stock.adobe.com

In summer 2016, the major crypto exchange Bitfinex, which shares a management team with Tether, the emitter of the USDT stablecoin, suffered a hack.

The culprits transferred $72 mln worth of Bitcoin from Bitfinex in Hong Kong (almost 120,000 BTC at the BTC rate back then).

Now, another portion of that money has been moved to an anonymous crypto wallet - $255,863 (28.4 BTC).

The remaining portion of the $72 mln stolen from Bitfinex?

Earlier today, Whale Alert detected another Bitcoin stash moved by the hackers responsible for the 120,000 BTC that was stolen in early August four years ago.

The amount transferred, today, totals $255,863 (28.4 BTC). In summer 2019, the BTC stolen in Bitfinex was already worth $973 mln, when the BTC price was slightly above $10,000.

7 Years Imprisonment for Buying Bitcoin Is What Authorities May Give in Russia

A whale moves $400 mln in Bitcoin for a tiny fee

Another major Bitcoin transaction was recently conducted. A whale transferred 46,835 BTC for a small fee of just 0.00032160 BTC – that’s $2.92.

Many Bitcoiners believe that BTC leaves banks no chance in the future since Bitcoin is making it impossible to compete not only in terms of fees charged but also in the speed at which the money arrives at the destination.

Image via Blockchain.com

Average BTC transfer fee hits 6-month high

Meanwhile, as of May 20, the average fee for sending Bitcoin totals $6.94, after reaching a half-a-year high.

Some in the crypto community often criticize Bitcoin for this and point out that using altcoins, e.g. XRP, is much cheaper and transactions are delivered a lot faster than BTC.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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