Bitcoin Forum

Hey guys,

just now, another transaction of now 448.72 BTCTC (~5 million USD) from the "Bitfinex Hack 2016" were transferred to unknown wallet-adress!

https://whale-alert.io/transaction/bitcoin/8d49f7e2156da6b2dfb5e0e9e86c8d878c96a0dd4674c64dea37c748a37aac63
or
https://www.blockchain.com/btc/tx/8d49f7e2156da6b2dfb5e0e9e86c8d878c96a0dd4674c64dea37c748a37aac63

What do you think?

//edited

It is shows as sweep transaction with same type of BTC address, starts with 3) according to blockchair.com explorer (https://blockchair.com/bitcoin/transaction/8d49f7e2156da6b2dfb5e0e9e86c8d878c96a0dd4674c64dea37c748a37aac63).

I don't care much about the price effect from the address.

• It is not a big one on exchange to create any long lasting effect. What I see interesting is how they will move their coins next steps.
• I would like to observe and also learn about their strategies to mix and blur their coin on the network transaction history. As you see, for now their transaction is marked as low privacy score - of course it is a subjective score algorithm from the explorer.
• FUDs from the new, I don't see it because of above reasons.

If victims already was compensated from Bitfinex, and if nothing to find real people behind the hack.

I think this has the same thread: https://bitcointalk.org/index.php?topic=5265230.0 in this board but the last time it had a transfer was about 473 BTC and right now it's 448 BTC. https://twitter.com/whale_alert/status/1288181756059963396

No one knows what we'll be done with those stolen coins unless it will be tracked, though it is still on the sent wallet and hasn't been moved yet.

If that unknown wallet is not owned by a third party like an exchange, there might be no way to intercept, freeze, or confiscate those Bitcoins. And it is highly improbable for the hackers to commit that very basic mistake. So the Bitfinex hack victims are all like a helpless audience looking at their money flowing from one wallet to another.

By the way, are the authorities still pursuing these stolen Bitcoins?

This is the flip side of decentralization. The whole world can only watch the movement of the bitcoins stolen from the exchange in 2016, and no one can do anything to return the stolen money. Bitcoins began to be transferred to other wallets, apparently for their partial cashing. Indeed, during this time, their price has grown from $ 78 million to the current $ 1.3 billion. It would be foolish to hope that these bitcoins will be transferred to exchanges or exchangers where the identity of their owner exists.
 I also hope that law enforcement agencies are also monitoring the movement of stolen bitcoins in order to catch hackers on possible mistakes.

It's hard to redeem that money without getting noticed. The hackers would move it slow and to so much many address that it would get difficult for the people to keep a track and maybe make them go through some mixtures to turn the coins white. They would ofcourse not used any centralized exchanges as they'll easily get caught at the moment.

Found the hacker. You cheeky fellow.

It's interesting because it's one of the most famous hacks of all time and by following the coins we may find out their eventual fate as well. Along the way we may learn how on it law enforcement and exchanges are about this type of thing.

Bitfinex must have been following its trail. They must be interested to the end result of it.  Hackers are not that stupid to send it to an exchange but it would give us a good laugh if the hacker would.


The last wallet where the coins are looks not a 3rd party for something they could make a transaction to go out somewhere. I have read there is a market for this kind of coins but that would be too risky for the buyer.  Is anyone also in here rooting for the to succeed?  

They actually did, Bitfinex takes ‘great pleasure’ in returning funds from 2016 hack (https://coinrivet.com/bitfinex-has-great-pleasure-in-returning-funds-from-2016-hack/).

But I think it's better that this criminals be caught and put to jail, isn't it? That is justice and probably they are pursuing it for all we know. And if they are caught, this are going to send messages to cyber criminals as well that sooner or later the long hands of the law will get them.

I already open a similar thread as what @ rhomelmabini has mentioned, Bitfinex hacks BTC are on the moved (https://bitcointalk.org/index.php?topic=5265230.0/). Lower left, lock topic.

This is the negative side of a currency which cannot be confiscated nor reversed. That is why we should be very careful and extra cautious in making every single Bitcoin transaction. In this case, the hackers got the better of Bitfinex and made their users helpless victims.

I agree that the law enforcement agencies are now put into a situation where they can do nothing except keeping track at the funds' movements hoping that the criminals will commit at least a single mistake.

LOL

I was looking for this comment

While it's sad to see scams around, I'm sometimes surprisef to see how some people react so negatively towards these kind of news as if BTC is to be blamed. To be honest, I'd rather have them sell the coins than consider them "lost" and have them sell a decade later. The more time passes, the more these coins are going to probably be worth.. hence, the more of a psychological effect it'll have over weaker hands and people who think scams only happen in BTC.

I guess the one behind this is having a hard time withdrawing all that funds or even using them. One wrong move, or go into a centralized platform, he will get caught.  ;D
There is no place to go if you are being chased :P.
Goodluck hackerman. I Hope you get caught.


Probably because it is one of the most known hacking of huge bitcoin funds? We are talking about huge amount of money here. It's great to know if the hacker gets caught ;D

His only choice is dex, but there are only few dex that crosschain bitcoin. Even so, the one who did it are also worried about getting caught so his safely do the transferring slowly by different address. Once many platform have open up dex for bitcoin, assured that they can monetize all the btc they scammed from Bitfinex.

He is not dumb probably to use centralized exchange that required KYC and also Im sure centralized exchange were alerted with the address these scammers used.

Conversion of hacked bitcoin is merely impossible because they have to go with centralized service platforms to make it possible that is why hacker also waited too long for the adoption to take place but finally lost his patience.Hopefully he will kake a mistake and leave the traces at somewhere to find him.

At some point, they will make a mistake and hopefully the authorities will catch them before they disappear again. They need money so they are starting to cash out. And the exchange, whether big or small should report it if they happen to encounter those hacked addresses.

Recently there was a report about Ukraine arrests gang who ran 20 crypto-exchanges and laundered money for ransomware gangs (https://www.zdnet.com/article/ukraine-arrests-gang-who-ran-20-crypto-exchanges-and-laundered-money-for-ransomware-gangs/). And as this came out recently, I think this is one way in which those criminals are cashing it out, through this flight by night exchanges that most of us are not familiar but only the criminals.

And the Bitfinex hacks bitcoin is still on the move, I saw one report about a couple of days ago. So I guess they are desperate right now to get their hands on this money and will do everything to cash them without leaving any digital footprints.

If they don't want to leave any digital footprint then they better not be desperate, lol. That's how you usually mess up.

Anyway, although even the smallest mistake could lead to the identification of the hackers, I guess their identity remains and will remain a mystery. Guess we have to just move on and let the blockchain analysis teams do their job. So far, nothing to see besides transfers.

BTCBTC If they don't want to leave any digital footprint then they better not be desperate, lol. That's how you usually mess up.

Anyway, although even the smallest mistake could lead to the identification of the hackers, I guess their identity remains and will remain a mystery. Guess we have to just move on and let the blockchain analysis teams do their job. So far, nothing to see besides transfers.

It makes sense. Firstly, the possibility of tracking the movement of stolen funds to some extent makes it difficult for hackers to launder them, given that the entire crypto community is watching this, no exchange can make a deal with hackers. Of course, they can use mixers, but if they have not done this yet, then they either do not want or something is bothering them.