Whale Alert: $27M From 2016 Bitfinex Hack Is on the Move

The monumental 2016 hack resulted in one of the single-largest losses in bitcoin of all time.

AccessTimeIconJul 27, 2020 at 8:40 p.m. UTC
Updated Sep 14, 2021 at 9:36 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Whale Alert said on Monday that Bitfinex hackers are shuffling around millions of dollars in bitcoin stolen during the massive Bitfinex exchange hack in 2016.

  • The market-tracking and market-moving Twitter account documented nine transactions on Monday that saw about 2,550 total bitcoin (~$27 million) move from wallets associated with the 2016 hack into new unknown addresses.
  • In 2016, a Bitfinex security breach resulted in the theft of nearly 120,000 bitcoins from the exchange. It is one of the costliest bitcoin hacks of all time and one of the single largest by coin count, though it pales in comparison to the infamous Mt. Gox hack of 2014.
  • Monday's transactions came in two volleys: four at 16:41 UTC worth nearly $5.8 million, and five worth almost $22 million an hour later.

See the first tweet below:


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.