Breaking News

web3bzz

Allow notificationsđź”” to receive the latest news and updates.

Bitfinex Wallet Hacker Sends Back Most of $20M to U.S. Authorities

Hacker sends back $19.3M from Bitfinex heist to U.S. authorities. Mystery motives unveiled.

3 min October 25, 2024

Highlights:

•

Bitfinex hacker returned $19.3M of stolen funds to U.S. authorities.

•

Approximately 88% of the stolen funds were refunded within 24 hours.

•

The hacker’s motives remain unclear, raising speculation within the crypto community.

Bitfinex Wallet Hacker Sends Back Most of $20M to U.S. Authorities

A surprising twist emerged in the world of crypto theft. On Oct. 24, a hacker drained around $20 million from a U.S. government wallet. These funds had been seized from the notorious 2016 Bitfinex hack. Less than 24 hours later, the same hacker returned $19.3 million. Why did the hacker make such an unexpected move?

 

Funds Returned, But Motives Remain a Mystery

 

Roughly 88% of the stolen funds made their way back to government control. According to Arkham Intelligence, wallets linked to the hacker returned about 2,412 Ether (ETH) and $13.2 million in Aave-staked USDC (aUSDC). 

 

 

Blockchain investigator ZackXBT highlighted that not all the funds returned. Approximately $700,000 had already been sent to instant exchanges. This rapid refund has left many speculating about the reasons behind the act. 

 

Was the hacker feeling the pressure from authorities? Or was there a sudden change of heart? The true identity remains a mystery, leaving more questions than answers.

 

A Surge in Crypto Hacks: October’s Troubling Trend

 

October turned out to be a difficult month for DeFi platforms. On Oct. 16, Radiant Capital suffered a massive blow. A hacker managed to breach the cross-chain lending service and drain $50 million. 

 

The troubles didn’t end there. On Oct. 17, Ambient Finance experienced a front-end attack. A hacker managed to compromise the platform’s website domain. Luckily, the core protocol stayed safe, and the team quickly restored user services. 

 

The partial return of funds in the Bitfinex case brought some relief, but the mystery behind the hacker’s actions lingers. For now, the crypto community watches, waiting to see the next move in this ongoing digital cat-and-mouse game.

 

 

Subscribe To

Web3Buzz

Connecting you to the world of Web3

Related News

People also like to read

Latest News