US Government Crypto Wallets Lose $20M in Crypto in Hacker Attack

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On Oct. 24, a hacker accessed a wallet under the control of the US government and drained it of an estimated $20 million.

This wallet contained funds that had been seized from the 2016 Bitfinex hack. The hacker then transferred the stolen funds to a wallet starting with “0x348,” which contained various stablecoins like USDC, USDT, aUSDC, and Ether.

According to onchain analytics firm Arkham Intelligence, the attacker appears to be converting the stablecoins into ETH and laundering the funds through multiple addresses that are likely associated with a money laundering service.

It is believed that the hacker took advantage of the funds seized by the US government in the Bitfinex hack, which is linked to the upcoming sentencing of Ilya Lichtenstein and his wife Heather Morgan in November.

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.