U.S. government-linked crypto wallet hacked, HK$20m in seized funds stolen
25th October 2024 – (Washington) A crypto wallet address associated with the U.S. government, which held seized funds from Bitfinex, fell victim to a reported hack, resulting in the theft of $20 million.
According to blockchain intelligence firm Arkham, the hackers executed a sophisticated operation, siphoning $20 million worth of Tether (USDT), USD Coin (USDC), aUSDC, and Ethereum (ETH) from the compromised wallet.
The stolen stablecoins were swiftly converted into Ethereum and funnelled into multiple addresses labelled “Binance Deposit.” Arkham’s analysis suggests that the hackers have initiated the process of laundering the illicit proceeds through addresses linked to suspicious…
