Over $20 million worth of stablecoins and Ethereum was transferred from a wallet containing funds seized by the U.S. government Thursday, shifting assets tied to the 2016 hack of the crypto exchange Bitfinex to a five-day-old address in what an on-chain analyst is framing as a likely theft.
Some of those funds have now been moved to so-called instant exchanges, including one that sources its liquidity from Binance—an off-shore exchange and the largest crypto trading platform in the world by volume.
Minutes before the transfers took place, the blockchain analytics firm Arkham Intelligence highlighted withdrawals from the lending protocol Aave in a tweet. It was the first time the funds had been touched in eight months, the company said.
Nov 16 2024
