Hackers Move $383M Worth of Bitcoin From 2016 Bitfinex Hack

Large amounts of bitcoin stolen from the cryptocurrency exchange Bitfinex six years ago were moved by hackers early on Tuesday.Alert, bad actors transferred 10,000 bitcoins worth more than $383 million to an unknown wallet during Asian hours.

The number of bitcoin transferred amounted to 8% of the total 119,756 BTC drained from Bitfinex in 2016, one of the biggest bitcoin hacks to date. Hackers last moved the stolen bitcoin in April 2021, transferring over $700 million worth of coins to unknown wallets during the bull frenzy brought by crypto exchange Coinbase's the-then impending listing on Nasdaq.

A movement of malicious funds usually raises suspicion of bad actors looking to cash out and spooks markets.with the Bitfinex hack is widely tracked and blacklisted. Thus, hackers will have a tough time cashing out on prominent centralized exchanges. In other words, the latest movement of the hacked coins presents little downside risk to bitcoin. At press time, the cryptocurrency was trading largely unchanged on the day near $38,500.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a

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