Did hackers steal $20 million from the US government’s crypto wallet?

An anonymous hacker or hackers managed to steal $20 million in multiple crypto assets from US government wallets. The hackers reportedly started swindling the money.

These stolen funds originally came from the $3.6 billion that law enforcement seized from the Bitfinex hackers.

Has the US government been hacked?

$20 million worth of various crypto assets have been stolen from the US government's huge reserves by unknown hackers. This hack was first noticed by Arkham Intelligence, who said that these properties were suddenly moved.

“A US government linked address appears to have been hijacked for $20 million. “We believe the attacker has already started laundering money through suspicious addresses linked to illegal money laundering services,” Arkham said.

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Crypto sleuth ZachXBT, who recently cracked another cryptocurrency scam, agrees with this conclusion. He noted that these likely stolen funds were immediately transferred to several fast exchanges, where the hacker could potentially make a quick profit. The stolen assets are all in USDC, USDT, aUSDC and ETH.

The United States has been one of the biggest holders of Bitcoin and other crypto assets due to its long history of massive criminal asset seizures. In the past, even the slightest hint of preparation for a speculative sell-off has sent markets into a panic. If these hackers can penetrate government security and successfully launder stolen funds, it will be a sign of danger.

Arkham mentioned that these assets came from $3.6 billion in the Bitfinex seizure, which further complicates the possibility of a collapse. The US government took several steps this month to begin the process of rolling back the 2016 hack. Specifically, it designated a way for defrauded users to recover assets and forced hackers to reject claims for funds.

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However, the identity of the attackers and the nature of this wallet vulnerability are still unknown. Furthermore, the US government has not given any confirmation about the action.