On October 24, a hacker infiltrated a wallet believed to be controlled by the U.S. government, draining approximately $20 million, including funds from the 2016 Bitfinex hack. According to Arkham Intelligence, the malicious address currently holds about $13 million in various assets such as US Dollar Coin, Tether, aUSDC, and Ether. The attacker appears to be converting stablecoins into ETH and laundering the funds via addresses linked to a money laundering service. This incident involves assets seized in a high-profile case against Ilya Lichtenstein and Heather Morgan, who hacked Bitfinex and stole 120,000 Bitcoin worth nearly $8.2 billion today. Both face sentencing soon after cooperating with the prosecution during their plea agreement. Lichtenstein admitted to laundering funds but later backtracked. The U.S. prosecutors have filed recommendations for reduced sentences due to their cooperation, which deviates from initially sought longer penalties.

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