Cryptocurrency wallets containing bitcoin seized by the U.S. government in connection with the infamous Bitfinex hack have shown signs of activity. The wallets, linked to the guilty pleas of Ilya Lichtenstein and Heather “”Razzlekhan”” Morgan, transferred nearly $1 billion in a series of four transactions within a span of less than two hours.
Blockchain-data firm Arkham Intelligence identified at least three wallets holding funds seized by the government in relation to the Bitfinex hack. One of these wallets initiated the movement by transferring 1 BTC, followed by the remaining 2,817 BTC, totaling around $173 million. Another wallet, holding approximately 12,300 BTC, carried out a series of transfers, culminating in a total value of about $750 million. The motive behind these transactions remains unclear, and the U.S. government has yet to provide a comment on the matter.
The transfers occurred amid a volatile day of cryptocurrency trading, with bitcoin’s price experiencing fluctuations, reaching $60,000, climbing to over $64,000, and then dipping to just above $59,000. The official statement from the Justice Department confirmed that these transactions were part of legitimate law enforcement-related activities. Another U.S. government wallet, reportedly containing around 94,600 BTC of seized Bitfinex hacker funds, is estimated to be worth roughly $5.79 billion at the current bitcoin price.
The Bitfinex hack, one of the most notorious heists in the cryptocurrency industry, involved the theft of about 95,000 bitcoin from crypto wallets controlled by defendants Ilya Lichtenstein and Heather Morgan. The government’s seizure, valued at around $3.6 billion at the time, has now witnessed unexpected movement, raising questions about the motive behind these sizable transactions.
