Hacker Plunders $20,000,000 Worth of Crypto From Wallet Affiliated With the US Government: Arkham
A hacker plundered $20 million worth of crypto from a wallet affiliated with the US government, according to the digital asset deanonymizing platform Arkham.
Arkham notes the exploiter stole the crypto from a government address affiliated with funds seized from hackers who hit the exchange Bitfinex in 2016.
The government address hacker stole $20 million worth of the stablecoins USDT , USDC , Aave USDC ( aUSDC ) and Ethereum ( ETH ). Arkham says they have begun selling the proceeds for ETH and funneling the crypto through a suspicious address linked to a money-laundering service.
The US government address hadn’t moved any crypto for eight months prior to the hack.
In July, a different US government address moved more than $2 billion worth of Bitcoin ( BTC ) seized from the illicit online marketplace known as the Silk Road. Arkham said at the time that the coin shifting likely represented “a 10,000 BTC deposit to an institutional custody/service.”
In April, multiple on-chain crypto tracker firms noted a US government address sent more than $131 million worth of seized BTC to a Coinbase Prime wallet.
Julio Moreno, the head of research at the blockchain analytics firm CryptoQuant, said the 2,000 Bitcoin sent to Coinbase were sold. He also noted the BTC came from the trove that was seized from James Zhong, who pleaded guilty to wire fraud after being accused of manipulating transactions on the Silk Road.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
From "What can AI do" to "Who will pay": Goldman Sachs analyzes the threefold logic behind the continued pressure on tech stocks
Nvidia has fallen for seven consecutive days, putting pressure on the Nasdaq. Goldman Sachs points out a restructuring of pricing logic: the credit market is sending early warning signals, with CDS spreads quietly widening; inventory concerns are emerging in the supply chain, and although WFE orders are surging, there are underlying risks of overheating; power constraints and policy resistance are casting a shadow over data center expansion. The forward P/E ratio of the Philadelphia Semiconductor Index has plummeted from 22 times to 15 times. The core issue of AI has shifted from "what can be done" to "who will pay."
Aster Launches TMX Perpetual Futures With $50K ASTER Trading Rewards
Crypto prices
More
