Over $750 Million in Bitcoin from the 2016 Bitfinex Hack Moved Today – Bitcoin News


Over $750 Million in Bitcoin from the 2016 Bitfinex Hack Moved Today

On Wednesday, after bitcoin prices touched a new all-time high, thousands of bitcoins from the August 2, 2016, Bitfinex hack were transferred to unknown wallets. The exact count of BTC moved from the hack is not entirely clear, but one blockchain parser shows that over 12,208 BTC from the 2016 Bitfinex breach worth $754 million today was moved to various addresses.

  • On August 2, 2016, the exchange Bitfinex was hacked for approximately 119,756 BTC, which is worth $7.5 billion using today’s exchange rates. That day, the price per bitcoin (BTC) slid 22% but the exchange managed to pay customers back using another token.
  • During the last year, a number of stolen bitcoins from the Bitfinex hack have been moved. As BTC’s price grew higher, Bitfinex hacker coins have moved more regularly.
  • Leveraging a blockchain parser, Btcparser.com, Bitcoin.com News discovered 11,799 BTC from the 2016 Bitfinex hack transferred at block heights 679,205 all the way until 679,214.
  • The number of BTC moved from the hackers’ stash today could be much larger. And there could be more movements today, as BTC from the Bitfinex 2016 hack was transferred while this report was written.
Over $750 Million in Bitcoin from the 2016 Bitfinex Hack Moved Today
Some of the 12,208 bitcoins from the 2016 Bitfinex hack caught by Btcparser.com. On Wednesday, at 4:25 p.m. (EST), this article was updated to reflect the movements in transactions between block heights 679,205 to 679,214.
  • Using today’s exchange rates, the 11,799 BTC is worth more than $742 million today. These transfers of more than 30 transactions, is one of the largest moves the Bitfinex hackers have done to date. The blockchain parser Whale Alert also caught the transactions that started after 1:00 p.m. EST.
  • Members of the Telegram channel Goldfoundinsh*t believe “this awakening was done in purpose to dump the price a little bit. Since Coinbase has been listed and many people want to go long with it.”
  • “We assume the hackers may try to manipulate the price, thus it’s not an ordinary hacker,” a member of the Telegram channel Goldfoundinsh*t said.
  • Following the 11,799 BTC cleared between block heights 679,205 to 679,212, another 409 BTC from the Bitfinex hack moved. This brought the estimated total to 12,208 BTC worth over $754 million.
  • “Our Btcparser has just signed several bitcoin movements from the Bitfinex exchange hack. Just in time, I would say,” Taisia, the leader of the Goldfoundinsh*t told Bitcoin.com News. “Traditionally, such news causes a dump, and, holding in mind the current euphoria about the Coinbase direct listing on the Nasdaq, it was a great temptation to clip the wings of the ‘longs.’”
  • Coinbase shares (Nasdaq: COIN) are currently trading for $332 at the time of publication.
Tags in this story
$750 million, 12208 BTC, Bitcoin, Bitcoin (BTC), Bitfinex Hack, block height 679212, BTC, BTCparser, Coinbase Listing, dump, Goldfoundinsh*t, Hackers, nasdaq, Price, Taisia

What do you think about the 12,208 bitcoin that moved from the Bitfinex hackers’ wallets to unknown wallets? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer
Show comments