$750 million bitcoin from the 2016 Bitfinex hack moved today

Those behind the bitcoin theft from the Bitfinex exchange in 2016, moved 12.000 bitcoins, worth about $750 million.


This move was noticed by Whale Alert, which announced it on twitter. This move of bitcoins was not made via a single transaction, but with more than 30. To be precise, 11.799 BTC have been moved. Some smaller movements of stolen bitcoins had occurred last year as well.


This move came on a day when bitcoin reached the highest point of all time, while for the first time the trading of the share of a cryptocurrency exchange, Coinbase, in the stock market began. This fact was widely covered by the media worldwide, and which of course gave an additional impetus to yesterday’s rise in the price of bitcoin.


However, analysts do not believe that this move will have any effect on the price of bitcoin, at least not immediately. Plus, the number of bitcoins that was moved represents only 10% of the stolen bitcoins.


Exchanges have the means to prevent the liquidation of these currencies, although thieves also have their own ways of liquidating.


Some believe that this move was a way of spreading fear in the market in order to put downward pressure on prices. This is also a way to make a profit, although this scenario does not seem very likely or at least does not seem to have worked.


The theft that took place in 2016 on Bitfinex bitcoin shareholder, was one of the biggest and therefore shocked the entire relevant market. 119.756 bitcoins were stolen, worth more than $7.5 billion today at today’s prices. When the hack happened, it caused the market to collapse by 20%.


The case came to a incomplete conclusion. Two brothers of Israeli nationality were blamed in part for the attack. Since then, about 1-2% of stolen bitcoins have been moved occasionally. Coins worth about $97 million moved in November 2020. This move happened again at a time when the price of bitcoin was reaching new all-time highs.