Based to information from Arkham Intelligence, the US government appears to have moved over $1 billion in Bitcoin late on Wednesday from two accounts connected to the Bitfinex breach in 2016.
It’s unknown why the government wallets made the moves. The Department of Justice did not respond to Cryptonews’ request for comment before publication time.
Initially, one wallet sent out one Bitcoin, followed by a transfer of 2,817 Bitcoin. Then, a second wallet transferred 0.01 Bitcoin, followed by another 12.267 Bitcoin. According to Arkham’s recorded withdrawals, the combined transfers amounted to around $923 million.
The US government has accumulated over 200,000 Bitcoins, worth at approximately $5 billion, as a result of seizures related to criminal activity, making it one of the top Bitcoin holders.
However, the transactions coincide with increased activity in the cryptocurrencycurrency market, causing Bitcoin to rise past $60,000 on Wednesday. This spike comes amid speculation over Bitcoin price estimates, notably the upcoming halving event, which might have a significant impact on market dynamics.
95K Bitcoins Seized in 2016 Bitfinex Hack
The couple allegedly used phony identities to open online accounts. They also allegedly disguised the transaction trail by routing funds through several platforms, including cryptocurrencycurrency exchanges and darknet markets.
Ilya “Dutch” Lichtenstein and his wife Heather Rhiannon Morgan, the perpetrators of the 2016 Bitfinex hack, were apprehended in 2022. Subsequently, the Justice Department reported its most significant cash seizure to date, amounting to nearly 95,000 Bitcoins.
Furthermore, Lichtenstein admitted to purchasing mushrooms and LSD from darknet marketplaces. He stressed that he did not use drugs while carrying out the cyberattacks.
Read also: Wall Street Journal Faces a Defamation Lawsuit for its Coverage of Tether and Bitfinex
