U.S. Government Crypto Wallets May Be Compromised, as Observers Alerted the Public to Suspicious On-Chain Transactions
- Linda HamiltonOriginal
- 2024-10-25 13:04:22974browse
According to Arkham, unknown hackers have possibly stolen $20 million in seized cryptocurrencies like Ethereum (ETH), Tether (USDT), and Circle USD Coin (USDC) from U.S. government-controlled addresses.
U.S. government crypto wallets might have been compromised, with suspicious on-chain transactions alerting observers to a possible $20 million theft.
According to Arkham, unknown hackers may have pilfered the funds, which include seized cryptocurrencies like Ethereum (ETH), Tether (USDT), and Circle USD Coin (USDC), from U.S. government-controlled addresses.
The unfolding events, corroborated by on-chain sleuth ZachXBT on Telegram, might even pertain to funds confiscated from the Bitfinex hackers. Arkham noted that address 0xc9E received seized assets from at least one wallet mentioned in the Bitfinex court case documents.
“UPDATE: US Gov linked address appears to have been compromised for $20M.
$20M in USDC, USDT, aUSDC and ETH has been suspiciously moved from a USG-linked address 0xc9E6E51C7dA9FF1198fdC5b3369EfeDA9b19C34c to…”
Bitfinex was hacked in 2016 by Ilya Lichtenstein and his rapper partner Heather Morgan, who managed to steal around $8 billion in Bitcoin (BTC) from the crypto exchange. Nearly a decade later, federal prosecutors pushed for a five-year sentence to be issued to Lichtenstein.
The transactions suggest that the hackers started selling and laundering the funds after breaking into U.S. government wallets, stated Arkham in its Oct. 24 post regarding the suspicious activity.
“The funds were moved to wallet 0x348 which has begun selling the funds to ETH. We believe the attacker has already begun laundering the proceeds through suspicious addresses linked to a money laundering service.”
Before flagging the U.S. government transactions, Arkham noted that government wallets withdrew over $6.5 million in crypto from decentralized finance lender Aave. Etherscan data also showed that one U.S. government address paid up to $1,000 in Ethereum fees to move about $100,000 in cryptocurrencies.
This is a developing story.
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