Some of the 119,756 bitcoins that they stole from the Bitfinex cryptocurrency exchange in 2016 are on the move again.
After a series of Tweets published by Whale Alert on July 27th and 28th, The wallet addresses, which are known to be associated with one of the largest thefts from a cryptocurrency exchange, moved 3503 Bitcoin (BTC) worth approximately $ 38.7 millionin 12 transactions.
The largest single train was 476.32 BTC or approximately $ 5.2 million, while the smallest was 2.612703 BTC or $ 28,849.
Slowly moving billions in cryptocurrencies
So far, the hackers responsible for stealing Bitfinex have only moved 1-2% of the money they stole from the stock market in August 2016. HODLing’s strategy seems to be paying off as the loot was only worth $ 72 million at the time. It’s now worth $ 1.3 billion.
The potential impact of such a large number of coins thrown into the cryptocurrency market could be problematic. However, the price of Bitcoin remained largely unaffected when 50 BTC tokens moved in old directions associated with Satoshi Nakamoto in May.
Lack of exercise can indicate that criminals have difficulty washing digital assets as stricter standards are applied. Cointelegraph reported in June that 736 BTC from previous wallet transfers related to the hack went to the Russian Darknet Hydra market, with some ending up back on Bitfinex.