Behind the price of Bitcoin and other big cap crypto assets that had greened in trading at the beginning of February 2022, there was an electrifying transaction related to this digital token with the largest market capitalization.

This was after Bitfinex hackers were found to have moved Bitcoin worth US$2.5 billion or around Rp. 35.7 trillion to an anonymous wallet. How did it happen? Check out his review below.

Stolen Bitcoin Moves to Anonymous Wallet—Bitcoin Prices

This incident took place last Tuesday (2/2/2022), when some inactive bitcoins, as a result of a hack from a crypto exchange called Bitfinex in 2016, were found to be “moving” aka moving from the hacker’s wallet to the wallet. anonymous.

The tokens were also given to as many as twenty transactions involving the stolen bitcoins. Currently, it is known that 64,641 bitcoins with a value of up to US $ 2.5 billion (approximately IDR 35.7 trillion) were transferred.

In fact, this figure is more than half of the total stolen by hackers or approximately 120,000 bitcoins. A report from Whale Alerts, a blockchain analytics account, states that the largest transaction is estimated at 10,000 bitcoins, or about US$383 million.

The other transactions touched the smallest value at 0.29 bitcoin. On the other hand, as much as 94,643 BTC or approximately US$3.6 billion is stored in the addresses of these “black” bitcoin-accepting wallets.

However, although it is a bit difficult to determine the reason behind this bitcoin transfer by the hackers, it is suspected by some that this was done to scare investors into selling their crypto assets.

Previously, in 2021, hackers also transferred stolen bitcoins worth 10,000 bitcoins. A Twitter account named Alistair Milne at the time said that because these hackers were unable to cash out the bitcoins, they then changed their strategy by moving this digital asset as a bluff in order to create panic in the cryptocurrency market.

In this case, while the hackers may not be able to trade the stolen bitcoins, they can still frighten investors into selling their assets in a panic. Then, the hacker will profit from the short position.

For information, some stolen bitcoins were also returned to the Bitfinex exchange with the help of the United States (USA) authorities in 2019. That same year, detentions related to this hack took place in Israel. This happened when the USA tracked the movement of stolen funds worth US $ 1.5 million.

In this case, the US authorities successfully returned assets worth US$104 thousand to Bitfinex. The assets recovered at that time were 27.7 bitcoins. Bitfinex itself calculated the losses of all accounts when the hack occurred. They also give BFX tokens for every dollar to hack victims, which can be redeemed for shares in Bitfinex.

Customers who choose to receive shares also receive a right of recovery token, which is then followed by the destruction of the associated BFX token. Bitfinex, a year later, then offered a reward of US $ 400 million to anyone who was able to provide information about the recovery of the stolen crypto. This reward is calculated as the cost of recovering stolen assets, according to Bitfinex.

Bitcoin Price: Another Bitcoin Theft Case

Another of the largest bitcoin theft cases caught was when a loss of more than US$610 million (Rp8.7 trillion) was detected within the reach of the Poly Network—a platform that appears to link various blockchains so they can work together.

At that time, they also confirmed that they would take legal steps regarding the hacking scheme, as reported by CNBC International. On Twitter, Poly Network wrote: “We will take legal action and we urge the hackers to return the assets.”

The scheme of this theft scheme was also revealed by Poly Network. The Poly Network is a decentralized financial platform so hackers can easily start sending their loot to a number of other crypto addresses.

The total cryptocurrency stolen was more than $610 million, according to investigators at security firm SlowMist. SlowMist said through its Twitter account, investigators from his side had found things that could help track down the hacker.

“We’ve looked at the attacker’s mailbox, IP, and device fingerprints and tracked possible identity clues associated with the Poly Network attacker,” SlowMist said.

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