Adam Cochran

According to blockchain analysis service Whale Alert, 10,057 bitcoin (worth some $623 million at the time of this writing) that were stolen from cryptocurrency exchange Bitfinex in 2016 was transferred in a series of transactions yesterday.

Whale Alert shared the transactions across more than 60 tweets within one hour, all with the note that it was seeing “stolen funds transferred from Bitfinex hack to unknown wallet.”

The 2016 theft from Bitfinex totaled about $65 million worth of bitcoin at the time and raised questions about a contemporary decision to eliminate the cold storage aspect of its custody. The bitcoin associated with the theft have been transferred before, with 270 BTC being transferred in November 2020, for instance. Due to the Bitcoin blockchain’s public nature, bitcoin transactions like these are trackable and auditable.

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