A U.S. government wallet associated with the Bitfinex exchange hack was drained of over $20 million in stablecoins, with analysts suggesting the transfers may be linked to theft. This incident involved an unusually active wallet that had been dormant for eight months before substantial withdrawals occurred from the Ethereum-based lending protocol Aave. Following this, the majority of the funds were sent to a newly created wallet, which immediately began transferring assets to exchanges, including transactions flagged to have connections with Binance. The wallet’s first activity was recorded just days before the theft, raising suspicions about the legitimacy of these transactions. The infamous Bitfinex hack in 2016 led to the seizure of approximately $3.6 billion in digital assets, executed by Ilya Lichtenstein and Heather Morgan. As of now, the U.S. government-controlled wallet is nearly empty, holding only a negligible amount of a meme coin.

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