US Government Wallet Drained Of $20 Million In Seized Assets In Suspected Hack
Over $20 million worth of seized stablecoins and Ethereum was transferred out of a wallet linked to the US government in what is being considered a theft. On-chain analytics firm Arkham Intelligence revealed that the attacker sent funds tied to the 2016 Bitfinex hack to a five-day-old wallet address. “$20M in USDC, USDT, aUSDC and ETH has been suspiciously moved from a USG-linked address,” it said in an Oct. 24 post on X. Hacker Starts Laundering The Government’s Funds Through Various Platforms Shortly after the transfer out of the government’s wallet, the hacker started converting the stablecoins into ETH through addresses likely associated with a money-laundering service, according to Arkham Intelligence. funds are going to instantly exchanges looks nefarious — ZachXBT (@zachxbt) October 24, 2024 On-chain sleuth ZachXBT said that some of the funds have also been moved to instant exchanges. One of these platforms sources its liquidit...