Cyber-thieves from the Bitfinex hack of four years ago continue to cash out, this time transferring the equivalent of $4.1 million in bitcoin to an unknown wallet address.<\/p>\n
Crypto tracking tool Whale Alert reports that hackers moved 416 bitcoin (BTC) on June 11. The funds, valued at $4.1 million at the time of the transaction, were sent in 20 separate transactions, each bearing between 15 and 33 BTC.<\/p>\n
This is perhaps the biggest pay day yet for the hackers. When the stolen money first moved in June and August 2019, about 170 BTC and 300 BTC worth around $2.3 million and $2.7 million at the time, respectively, flowed.<\/p>\n
More recently, the thieves last moved $800,000 or 77.64 bitcoin on June 2. Another transfer of 28.4 BTC valued at $255,000 was executed on May 22. The coins are likely sold to unsuspecting buyers off the market.<\/p>\n
Ever carried out in small quantities to provide a false sense of security, the transactions are typically timed to coincide with every increase in the price of bitcoin. BTC spiked sharply on Wednesday to just under $10,000, but the benchmark cryptocurrency once again faced strong resistance at that key level.<\/p>\n
The digital asset has since slumped nearly 6% to $9,331 over the last 24 hours, according to data from markets.bitcoin.com. Bitcoin has repeatedly struggled to scale past the $10,000 barrier since the May 11 supply cut event, also known as halving.<\/p>\n
The point is regarded as key towards unlocking the long-anticipated bull run, something that has tended to come with every previous halving.<\/p>\n
All the three transfers by the Bitfinex hackers over the past three weeks happened almost simultaneously with the BTC price threatening a rise beyond $10,000.<\/p>\n
Hackers have chipped away at their multi-million-dollar stash since making off with 120,000 BTC from Hong Kong-based crypto exchange Bitfinex in 2016. Valued at $72 million at the time, that stash of bitcoin is worth over $1.1 billion at current prices.<\/p>\n
What do you think about the Bitfinex hackers moves? Let us know in the comments section below.<\/p>\n
Image Credits: Shutterstock, Pixabay, Wiki Commons<\/p>\n
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