Transfer of Nearly $1 Billion Bitfinex Funds by US Government: Ethereum Foundation Transfers 4,000 ETH to Exchange
With Bitcoin reaching the 60,000 milestone and attempting to challenge historical highs, market enthusiasm has reached its peak this year. At this time, the US government and the Ethereum Foundation have been found to be transferring cryptocurrencies. The Ethereum Foundation has previously cashed out at high points, will it accurately predict this time?
(Bitcoin reaches 64K, Ethereum challenges 3500, long and short positions struggle to avoid liquidation)
Contents
Toggle
The US government transfers nearly $1 billion in Bitfinex stolen funds
Ethereum Foundation transfers ETH to Kraken
The Ethereum Foundation becomes a signal indicator
The US government transfers nearly $1 billion in Bitfinex stolen funds
According to data from tracking platform Arkham Intelligence, the Bitfinex address marked by Arkham as the hacked stolen funds (held by the US government) was transferred to other addresses within two hours on the 29th through four transactions.
Advertisement – Continue scrolling for more content
The total transferred funds amount to nearly $1 billion, and the purpose of the transfer has not been confirmed yet. The US government has also not responded to CoinDesk’s request for comments.
Previously, it was reported that the US government had seized over 90,000 bitcoins in the Bitfinex hacker case.
(Bitfinex hacked money laundering case: couple pleads guilty! Compensation for affected users after 7 years is approaching)
Bitfinex stolen funds address
Ethereum Foundation transfers ETH to Kraken
The Ethereum Foundation has also been monitored for transferring 4,000 ETH, worth about $13.3 million, to the exchange Kraken from its relevant address after ETH exceeded $3,300.
The last time this wallet transferred ETH to Kraken was on January 6, 2022, when the price of ETH was also at the $3,300 level.
The Ethereum Foundation becomes a signal indicator
The Ethereum Foundation’s selling off seems to be quite skilled at executing during market overheating, which has always been regarded as a short-term top of the market by the crypto community.
The Ethereum Foundation also executed a sell-off in May of last year, and in hindsight, it indeed seemed to be a short-term peak.
(Ethereum Foundation transfers 15,000 ETH to Kraken, the end of the mini bull market and meme frenzy?)
ETH/USDT daily chart | Source: OKX
Bitfinex
Ethereum Foundation
The Ethereum Foundation
Related reading
Bitfinex successfully resolves $15 billion XRP transfer attack, Binance also avoids it
Bitfinex to cease serving retail customers in response to UK regulation
