The U.S. government executed a massive transfer of Bitcoin, which coincided with the cryptocurrency’s surge past the $60,000 threshold, a peak not seen in over two years. On February 28, amidst Bitcoin’s price climb to $63,000, authorities moved $922 million of the digital currency. This sum originated from assets seized during the 2016 Bitfinex hack.
The government’s actions started with a modest test transfer of 1 Bitcoin, valued at $60,200. Larger transactions quickly followed this initial move. These included a 2,817 Bitcoin transfer, worth $172.74 million, and a 12,267 Bitcoin move, amounting to $748.46 million. The precision and scale of these transfers underscore the government’s adept handling of the seized assets.
Background and Aftermath
The backdrop to this event involves the 2016 Bitfinex hack, where hackers made off with 119,754 BTC. Fast forward to recent developments, Ilya Lichtenstein and Heather Morgan, the duo implicated in the Bitfinex heist, faced legal repercussions. Their guilty plea to money laundering charges concerning the hack came in August 2023.
Moreover, the story of Lichtenstein and Morgan, often likened to “Bitcoin’s Bonnie and Clyde,” has caught Hollywood’s attention. Reports suggest that Amazon is adapting its saga into a film, drawing inspiration from their infamous exploits. This blend of high-stakes crime and digital currency intrigue continues to captivate public imagination and scrutiny.
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