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Cryptocurrency

Bitcoin robbers transfer part of Bitcoin loot worth $1.4 billion

Bitcoin robbers transferred part of their loot containing 119,756 Bitcoins.

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Crypto-Scammers stole $24 million worth of BTCs in 2020  

As the price of BTC approaches the $11,500 resistance level, Bitcoin robbers some hours ago, transferred part of their loot containing 119,756 Bitcoins worth $1.4 billion at today’s price.

This information was disclosed by advanced cryptic analytic tracker Whale Alert, in a series of tweets seen by Nairametrics. The recorded transactions occurred 4 times.

READ: Sterling Bank attempted to ‘scam’ its customers; but it’s a drill

Here are the most recent ones:

READ: Over 1,000,000 stolen XRP transferred from Kucoin to major crypto exchanges

READ: Bitcoin robbers transfer stolen BTCs worth $13.2 million

Backstory

In 2016, a top official at Bitfinex, in a statement seen by Nairametrics, disclosed that 119,756 Bitcoins were stolen from users’ accounts. To date, the BTC robbers responsible for those heists have only been able to move 1-2% of the funds from the exchange.

At the time this report was written, Bitcoin traded at $11,508.92 with a daily trading volume of $20 billion. BTC price is up 0.9% in the last 24 hours. It has a circulating supply of 19 million coins and a max supply of 21 million coins.

READ: Bitcoin robbers move 3503 BTC worth $38.5 million

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What you should know

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It should be noted that Bitcoin is not really anonymous because all BTC transactions are kept permanently and publicly on the blockchain or ledger system. Hence, it’s very easy for anyone to see the transactions and balances of any BTC address.

Explore Data on the Nairametrics Research Website

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What this means

Blockchain security and security agencies have flagged the BTC wallets containing the stolen BTCs, making it very difficult to move the 119,756 BTC without being noticed.

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

2 Comments

2 Comments

  1. M. Aminu Tukur

    October 17, 2020 at 7:36 pm

    A great expreance person.
    How do I start my investment in this Bitcion issue. I want to register and start the business. Please

  2. Ibrahim

    October 17, 2020 at 10:50 pm

    Many people in Nigeria have registered to get this bitcoin supplied to them. Some were promised to start receiving payment from August 12, and some are registered to receive theirs come November 12. How true is that? Because I have not seen a soul who receive a single dime since the start of August 12 to date from a promise to end poverty. I still ask, how true?

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