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BREAKING: US Government Moves Funds Seized from Bitfinex Hacker – Is There a Need to Panic?

While there is a rise in Bitcoin, some movements are observed in the funds seized by the US government two years ago.

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After a long dormant period of two years, a test transaction of 1 BTC was made from a wallet containing some of the funds seized by the USA from the Bitfinex hacker in 2022.

llya Lichtenstein and Heather “Razzlekhan” Morgan were accused of conspiring to launder $3.6 billion worth of Bitcoin stolen from Bitfinex in early 2022.

Both defendants took a plea deal in late 2022, they have not yet been sentenced.

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“Moved Funds Are Different from Silk Road Funds the U.S. Government Plans to Sell.”

Bitfinex argues that the Bitcoins should be returned to them because they have compensated the creditors. It is important to note that these funds are different from the seized Silk Road funds and that the US government has not said they intend to liquidate these funds. The most likely course of action would be to redistribute seized funds to victims.

UPDATE: After the 1 BTC test transaction, the US government moved all of the approximately $172 million BTC in the wallet where it kept some of the funds seized from the Bitfinex hacker, this time to another wallet outside the test transaction. There are no more assets in that wallet. However, the US government also has other cryptocurrency wallets involved in the Bitfinex hacking incident.

UPDATE 2: US government moved another $748 million worth of BTC from Bitfinex hacker funds.

*This is not investment advice.

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