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Blockchain analytics firm Arkham Intelligence revealed that $20 million in cryptocurrency has been suspiciously moved from a US government-linked wallet, potentially indicating a compromise. In a post on X, Arkham wrote, “US Government linked address appears to have been compromised for $20M.”
US Government Crypto Wallet Hacked
The US government wallet still holds $14.23 billion in crypto assets. The affected wallet, identified as 0xc9E6…C34c, contained assets in USDC, USDT, aUSDC, and Ethereum (ETH), a part of which were stolen by hackers. Arkham noted that the address received “USG seized funds linked to the Bitfinex hackers from 9 separate USG seizure addresses, including 0xE2F699AB099e97Db1CF0b13993c31C7ee42FB2ac, an address named in the court documents relating to the Bitfinex seizure.”
The funds have reportedly been transferred to an attacker’s wallet, 0x348…A9f. Arkham stated that the attacker “has begun selling the funds to ETH” and believes that the proceeds are being laundered through “suspicious addresses linked to a money laundering service.”
𝗨𝗣𝗗𝗔𝗧𝗘: 𝗨𝗦 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗹𝗶𝗻𝗸𝗲𝗱 𝗮𝗱𝗱𝗿𝗲𝘀𝘀 𝗮𝗽𝗽𝗲𝗮𝗿𝘀 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗯𝗲𝗲𝗻 𝗰𝗼𝗺𝗽𝗿𝗼𝗺𝗶𝘀𝗲𝗱 𝗳𝗼𝗿 $𝟮𝟬𝗠.
$20M in USDC, USDT, aUSDC and ETH has been suspiciously moved from a USG-linked address 0xc9E6E51C7dA9FF1198fdC5b3369EfeDA9b19C34c to… pic.twitter.com/UXn1atE1Wx
— Arkham (@ArkhamIntel) October 24, 2024
The US government has not yet issued a public statement about the incident, and the full extent of the breach remains unclear. Investigations are likely ongoing to trace the laundered assets.
Overview of Stolen Assets
A few hours ago, the US government’s address witnessed a massive transfer of $13.70 million worth of AUSDC. In addition, the crypto hackers also shifted $5.45 million of USDC.
Moreover, $1.125 million in USDT was stolen. Whilst, the last transaction saw the movement of 177.892 ETH, valued at $446,920, to the suspected address. Currently, the funds are being laundered with the exact destination being uncertain.