Allegedly, hackers stole $20 million in various cryptocurrency assets from the US government’s wallets. Moreover, crypto detectives suggest that hackers have already started laundering the money. The source of these funds is the $ 3.6 billion in cryptocurrencies seized by the US from Bitfinex hackers. Meanwhile, some speculate that this is a sales transaction.
Were the US Government’s cryptocurrency wallets hacked?
Allegedly, hackers hacked the crypto wallets containing the US Government’s huge stash. After that, they allegedly stole $ 20 million in various cryptocurrency assets. Arkham Intelligence first noticed this attack. The crypto intelligence platform stated that these assets moved unexpectedly:
The attackers appear to have seized $ 20 million in assets from the US Government-linked address. We believe that hackers have already started laundering proceeds through suspicious addresses linked to money laundering services.
Meanwhile, crypto detective ZachXBT also got involved. As you follow from Kriptokoin.com, ZachXBT recently solved another crypto money laundering case. The crypto detective stated that these possibly stolen funds were immediately moved to several exchanges. The assets stolen by the attackers are all in USDC, USDT, aUSDC and ETH.
The source of US cryptocurrency assets
The US is one of the largest owners of Bitcoin and other crypto assets. The source of these has a long history of large-scale criminal asset seizures. In the past, even small hints that preparations were being made for a hypothetical sale caused panic in the markets. If these hackers can bypass the government’s security and successfully launder the stolen cryptocurrency funds, it will be a sign of concern.
Arkham said these assets came from the $3.6 billion the US seized from Bitfinex . He also noted that it further complicates the potential fallout. The US government this month took several steps to initiate the compensation process stemming from the 2016 hack. In particular, it set a path for defrauded users to get their assets back. It also forced the hackers to give up their claims on the funds.
Or is the US Government selling crypto?
It is quite remarkable that Arkham Intelligence noted that the funds moved to 0x348 were later sold. In particular, Lookonchain data indicates that 148 ETH was sold to Binance, one of the largest cryptocurrency exchanges. For context, the US government received these crypto funds related to the Bitfinex hack from 9 other seizure addresses, including wallet address 0xc9E, 0xE2F. Interestingly, the 0xE2F address was also listed in court documents related to the seizure of Bitfinex’s hacked funds. Furthermore, Arkham hints that address 0x348 has started selling some cryptos moved from the US government wallet address. This chronicle has created a buzz in the broader market. Some even suggest that the sales are likely the US government’s efforts in the midst of recent litigation developments.
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