On October 24, a hacker compromised a wallet that is likely controlled by the U.S. government, draining approximately $20 million in cryptocurrency. This wallet contained funds seized from the infamous 2016 Bitfinex hack.
According to Arkham Intelligence, the attacker sent the stolen funds to a wallet starting with “ 0x348 .” This wallet included various cryptocurrencies such as US Dollar Coin, Tether, aUSDC, and Ether.
Source: X The hacker has reportedly begun converting these stablecoins into ETH, possibly laundering the money through addresses linked to money laundering services.
The stolen funds were originally seized from Ilya Lichtenstein and Heather Morgan, who hacked the Bitfinex exchange in 2016, stealing around 120,000 Bitcoin valued at roughly $8.2 billion today. Both were arrested in 2022, and their case is now nearing sentencing, scheduled for November.
In a July 2023 plea agreement, Lichtenstein and Morgan admitted to charges of money laundering and conspiracy. While Morgan is seeking a lighter sentence of 18 months, Lichtenstein faces a proposed five-year sentence due to his role in orchestrating the hack.
It’s important to note that the U.S. Department of Justice has not yet confirmed this hack. As the situation develops, experts continue to monitor the funds and the ongoing legal proceedings surrounding the couple.
