An unidentified hacker or group of hackers seems to have successfully stolen $20 million in various crypto assets from US government wallets. Reports indicate that the hackers have already started the process of laundering the stolen funds.
The pilfered funds originally came from the $3.6 billion confiscated from Bitfinex hackers by law enforcement.
Has the US Government Been Hacked?
An estimated $20 million in diverse cryptocurrency assets belonging to the US Government has reportedly been taken by unknown hackers. This incident was first observed by Arkham Intelligence, which stated that these assets were moved unexpectedly.
“An address linked to the US Government seems to have been compromised to the tune of $20 million. We believe the assailant has already commenced laundering the funds via suspicious addresses associated with a money laundering service,” expressed Arkham.
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Crypto investigator ZachXBT, who recently unraveled another crypto laundering operation, supported this assessment. He indicated that the potentially stolen assets were swiftly transferred to various instant exchanges, likely for the hacker to cash in quickly. The assets in question include USDC, USDT, aUSDC, and ETH.
The United States is among the largest holders of Bitcoin and other cryptocurrencies, thanks to a long track record of significant criminal asset confiscations. Previously, even minor signs of potential sell-offs have triggered panic within the markets. If these hackers can breach government security and successfully launder stolen assets, it raises serious alarm.
Arkham noted that these assets were part of the $3.6 billion in Bitfinex confiscations, complicating the potential ramifications further. The US government has recently initiated measures to begin the restitution process stemming from the 2016 hack, specifically paving the way for defrauded users to reclaim assets and urging hackers to renounce their claims.
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As of now, the identities of the perpetrators and the specifics of the wallet’s vulnerability remain unknown. Additionally, the US government has not confirmed any details regarding the incident.
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