Bitcoin Whale Alarm: BTC from Bitfinex Hack on the move again

Yesterday the crypto community (once again) was good for a little surprise. But we turn back time by three years: in August 2016 there was a spectacular hack on Bitfinex and nearly 120.000 BTC were stolen. After the last three years there weren’t any big problems on the wallets related to the hack, yesterday it was really time: Whale Alert.

Within a few minutes, the Whale Alert tracked five suspicious transactions originating from the alleged hacker’s address. Three of the suspicious transactions, in which a total of 1.37 million US dollars were transferred, are listed here. The complete list of all transactions can be found directly on the original Twitter account of @whale_alert.

Bitfinex Whitepaper causes rumours

After the Crypto community noticed this series of transactions, there was a flood of rumors. However, one of the many guesses made is very interesting and has attracted our attention. So the reason for the whale alert might actually be in Bitfinex Whitepaper. Because in the whitepaper, in which the basis for the own utility token called LEO is described, the following passage can be found:

In addition, the company is working with industry leaders to create a procedure too offer the hacker the chance to safely and privately refund the majority of the stolen funds while keeping a percentage of them as reward for collaborating in finally resolving this issue. See also blog3k.com.

Ultimately, this would mean nothing more than that Bitfinex has tried to contact the hacker in order to get most of the lost money back. Knowing full well that the actual hacker may keep a portion of the captured BTC.

Does this increase the value of the own LEO token?

This is also explosive in the sense that Bitfinex would use the money recovered in this way to buy back LEO. This measure would in turn increase the value of the LEO token considerably (similar to Binance and BNB).

  • However, according to a Bitfinex spokesman, the five $1.35 million transactions have nothing to do with the objectives outlined in the white paper. They said literally:
  • We are not involved and the movement is not tied to the process described in the LEO white paper.
  • However, it is unclear where the money will go or what the hacker will do with you. Most likely he will try to exchange his BTC for Fiat.