Following suspicious movements spotted by Arkham on addresses, it appears that the American government was stolen $20 million in cryptocurrencies. What do we know?
The US government allegedly suffered the theft of $20 million in cryptocurrencies
Thursday evening, Arkham's on-chain analysis specialists identified suspicious movements on blockchain addresses identified as those of the American government. This suggests that a hacker was able to steal the equivalent of $20 million in cryptocurrencies:
20 million dollars in USDC, USDT, AUSDC and ETH were suspected suspicious of an address linked to the USG 0xC9E6E51C7DA9FS1198FDC5B3369EFEDA9B19C34C to an attacker 0x3486ee700ccaf3e2f9c5ec9730A2E94740A. […] The funds were transferred to wallet 0x348 which began selling them for ETH. We believe the attacker has already started laundering profits through suspicious addresses linked to a money laundering service.
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According to a court document from July 2023, the funds present on the initial address came from 9 addresses relating to seizures as part of the Bitfinex hack in 2016.
For his part, on-chain investigator ZachXBT also believes that these movements are indeed theft. During these investigations, he was able to identify movements towards exchange platforms such as Binance, n.exchange or Switchain:
TLDR it's a likely theft as funds tied to the USG started going to instant exchanges like N exchnage, Switchain, and Binance nested service.
0x3486ee700ccaf3e2f9c5ec9730a2e916a4740a9f
0xbf6f7c503e858aded4e18ce2bcf93846fd726c15
0x15d0a31ed5050ed8decd3c101aaee0b2ad2e6441 pic.twitter.com/WEdIVKI40u— ZachXBT (@zachxbt) October 24, 2024
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For the moment, information on this case remains very incomplete, the United States government having obviously not yet communicated on it. Therefore, it will be appropriate to wait for the next on-chain analyzes of the different addresses involved to try to learn more.
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Source: Arkham
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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