$1.5M in Stolen Bitcoin From 2016 Bitfinex Hack Changes Address


A portion of bitcoin (BTC) stolen from Bitfinex crypto exchange back in 2016 has been moved from hackers’ wallets to an unknown address on June 7, based on several tweets by crypto transaction tracker Whale-alert.io.

The movement of stolen bitcoins has allegedly started earlier today at 06:08 AM UTC and involved of six transactions to date, totally worth about 185 bitcoin, or $1.5 million at press time.

Five out of six transactions of stolen funds from Bitfinex hack 2016 on June 7

Five out of six transactions of stolen funds from Bitfinex hack 2016 on June 7. Source: Whale Alert Twitter

The amount of recently moved stolen bitcoins accounts for about 0.15% of the 120,000 BTC stolen back in 2016, which was worth $72 million at the time of the hack, but is now is equivalent to $973 million.

Bitfinex’s marketing director Anneka Dew reportedly claimed that the movements are not connected with processes in the company, according to tech publication The Next Web.

Bitfinex launched trading of LEO token against major cryptocurrencies on May 20 after raising $1 billion for its token during its initial exchange offering earlier in May. Worth 1 tether (USDT), UNUS SED LEO is designed to facilitate trades on Bitfinex.

In the white paper to LEO tokens, released on May 8, Bitfinex wrote that the exchange continues to implement various strategies for recovery of funds stolen in 2016. The exchange cited that they have managed to restore about 28 BTC ($104,000 at the time) in February 2019 in collaboration with United States’ authorities.