News View Non-AMP

Hackers Steal $20 Million from US Government’s Crypto Wallet

Published by
Zameer Attar

Amid the ongoing cryptocurrency market recovery, a wallet address linked to the US Government that holds seized funds has been compromised by hackers. On October 25, 2024, the blockchain intelligence firm Arkham Intelligence made a post on X (Previously Twitter) that the US government’s crypto address had been breached, resulting in a loss of $20 million worth of assets.

US Government $20 Million Crypto Fund Stolen

According to the data Arkham has shared, the compromised $20 million held in the address was originally seized from hackers involved in the 2016 Bitfinex hack. These funds primarily consisted of stablecoins like USDT, USDC, aUSD, and ETH. They were transferred from the U.S. government-linked wallet address “0xc9E” to the hacker’s address “0x3486.”

In 2016, hackers stole nearly $4.5 billion worth of cryptocurrencies. The U.S. government later recovered most of these funds and transferred them to the wallet address “0xc9E,” which was compromised today.

Hackers Begin Laundering Stolen Funds

Additionally, the hackers have begun laundering the funds by converting them into Ethereum (ETH), which makes it harder to trace. In addition to this, Arkham in his post on X noted, “We believe the attacker has already begun laundering the proceeds through suspicious addresses linked to a money laundering service.”

However, on October 9, 2024, the U.S. government announced that Bitfinex was the sole victim of the 2016 attack and was eligible for compensation of 120,000 BTC from the seized funds. With the recent compromise, concerns have arisen about whether Bitfinex will receive the funds or if the authorities will need more time to resolve the issue.

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

Recent Posts

Tron Price Prediction 2025, 2026 – 2030: Can Tron Reach $1?

Story Highlights The live price of the Tron coin is Tron crypto could reach a…

June 25, 2025

Hong Kong Crypto Stocks Skyrocket 200% in a Day!

On June 25, Hong Kong’s crypto market witnessed a sharp spike in investor confidence following…

June 25, 2025

Solana Price Prediction 2025, 2026 – 2030: SOL Price Targets $500 Next?

Story Highlights Solana Price Today is . Solana coin price could reach a potential high…

June 25, 2025

Bitcoin ETF Inflow Hits $588M—Is a $112K Rally Next?

The Bitcoin Price witnessed a turbulent price action over the past couple of days, driven…

June 25, 2025

Ethereum ETH Price Prediction 2025, 2026 – 2030: Will Ethereum Price Hit $3k?

Story Highlights The Ethereum price today is . ETH price with a potential surge could…

June 25, 2025

Trump News: $2.4B Crypto Push Begins with Truth Social ETF Filing

On Tuesday, the New York Stock Exchange (NYSE) filed a rule change to allow the…

June 25, 2025