US Authorities Transfer Nearly $1 Billion in Bitcoin Seized from Crypto Wallet Bitfinex Hacker!

The concept of crypto is not new anymore. However, incidents like crypto hacks or scams are still increasing. The Bitfinex hack was one of the darkest chapters in the crypto industry and a notorious heist. That made investors worry a lot. Partly because of the colorful social-media posts of Heather "Rajlekhan" Morgan, who was accused in the case along with Ilya Lichtenstein. Incidents like scams and hacks are being reported regularly. Recently crypto wallet Bitfinex has seized almost $1 billion in bitcoins from hackers, according to which US authorities have transferred this amount of money.

Incidents like the infamous Bitfinex hack have caused a lot of concern among crypto investors. Because such events become a serious threat to investors in digital currencies. However, some people have been convicted recently of having wallets containing bitcoins seized by the US government. U.S. authorities later indicted Ilya Lichtenstein and Heather "Rajlekhan" Morgan. The reason for their conviction - has suddenly become active.

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However, there are reasons behind the conviction. The case tagged a series of four transactions less than two hours after the conviction that transferred nearly $1 billion from the wallet to an unknown address. Transactions of this magnitude certainly raise suspicions and more importantly the purpose or intent of the transactions in which such transactions are carried out is not clear.

Two crypto wallets were tagged with this amount of funds seized in the aftermath of the infamous Bitfinex hack. And two crypto wallets tagged as funds seized by the U.S. government transferred digital currencies totaling nearly $1 billion in bitcoins to unknown addresses. A wallet tagged by blockchain-data firm Arkham Intelligence. As such they are one of at least three that the Bitfinex hacker claimed to have seized funds from the government, and that they transferred essentially one billion BTC to an unknown address. Even after this transfer, the remaining 2,817 BTC was sent, leaving the wallet empty again, about half an hour later.

According to Arkham, the US government has another wallet. About 94,600 BTC has been seized in another wallet held by the US government. And this amount of BTC is basically the Bitfinex hacker fund. Which is worth about $6 billion in current prices. According to a Justice Department press release in August, the government seized approximately 95,000 stolen bitcoins from crypto wallets controlled by the defendants. Valued at about $3.6 billion at the time of seizure.