The US government may be the victim of a $20 million crypto hack.
Key receivers
More than $20 million in Ethereum and stablecoins were stolen from a wallet controlled by the US government. The theft was linked to a wallet that was involved in the 2016 Bitfinex hack.
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The US government may have been hit with a $20 million exploit that targeted a crypto wallet on October 24, according to reports from Arkham and blockchain sleuth ZackXBT.
UPDATE: OUR GOVERNMENT LINKED ADDRESS APPEARS HAVE BEEN FOR $20M.
$20m in USDC, USDT, aUSDC and ETH from USG-linked address 0xc9E6E51C7dA9FF1198fdC5b3369EfeDA9b19C34c to… pic.twitter.com/UXn1atE1Wx
— Arkham (@ArkhamIntel) October 24, 2024
The incident was first reported early today after an address linked to the US government, which had been dormant for eight months, made some suspicious transfers.
According to data tracked by Arkham, initially, $1.25 million in USDT and $5.5 million in USDC moved from DeFi platform Aave. Subsequently, approximately $13.7 million in aUSDC and $446,000 in Ethereum were transferred to a newly established wallet. These funds were previously seized by US authorities during the Bitfinex hack investigation.
In addition, about $320,000 in Ethereum was sent to various exchanges and $80,000 was distributed to several small wallets. Investigations are ongoing to trace the misappropriated funds and assess the full extent of the breach. The US government has not yet issued an official statement regarding this incident.
Arkham revealed that the attacker started selling these assets for ETH and may be depositing the funds to various suspicious addresses. At the time of the report, US authorities seized a total of more than $14 billion.
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