US Government-linked wallet loses $20 million in suspected hack – Newstrends
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US Government-linked wallet loses $20 million in suspected hack

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US Government-linked wallet loses $20 million in suspected hack

Crypto wallets linked to the United States government have lost over $20 million in suspected compromission by bad actors.

The transaction was picked up by Blockchain Intelligence firm Arkham Intelligence which raised alarm on the suspected compromission of the wallets linked to the United States government.

The US government wallets in question have been quite busy on chain with documented seized funds being pulled from Aave.

However, the wallet mysteriously lost $20 million recently in a suspected hack by bad actors.

Arkham intelligence shared its finding on X pinpointing the specific wallet addresses involved in the compromise while also detailing the address the funds were moved and the activity they carried out after the compromise.

“𝗨𝗣𝗗𝗔𝗧𝗘: 𝗨𝗦 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗹𝗶𝗻𝗸𝗲𝗱 𝗮𝗱𝗱𝗿𝗲𝘀𝘀 𝗮𝗽𝗽𝗲𝗮𝗿𝘀 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗯𝗲𝗲𝗻 𝗰𝗼𝗺𝗽𝗿𝗼𝗺𝗶𝘀𝗲𝗱 𝗳𝗼𝗿 $𝟮𝟬𝗠. $20M in USDC, USDT, USD, and ETH has been suspiciously moved from a USG-linked address ; 0xc9E6E51C7dA9FF1198fdC5b3369EfeDA9b19C34c to an attacker 0x3486eE700CcaF3E2F9C5eC9730a2e916a4740A9f.

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”0xc9E 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 were moved to wallet 0x348 which has begun selling the funds to ETH.  

”We believe the attacker has already begun laundering the proceeds through suspicious addresses linked to a money laundering service.” Arkham tweeted.

In another Hacking development, Arkham Intelligence revealed a court document from the case against Bitfinex hackers Ilya Lichtenstein and Heather Rhiannon Morgan. The case references Aave, Curve Finance, and Yearn Finance, as well as the “0xE2F” wallet. According to the document, it states:

”Approximately 1,999,723.976 in tether (USDT) contained within Yearn Finance Liquidity Pool address 0xaC8, approximately 3,689,545.195 USDT contained within Yearn Finance Liquidity Pool address 0xE2F, and approximately 1,700,000 USDT contained within Yearn Finance Liquidity Pool address [0x681].”

“The funds were moved to wallet 0x348 which has begun selling the funds to ETH,”

“We believe the attacker has already begun laundering the proceeds through suspicious addresses linked to a money laundering service,” Arkham added

These two cases are the latest and ongoing cases of hacks in the crypto industry as pointed out by Arkham intelligence.

There has been no official comment from US authorities over the Hack that occurred on Wallets linked to the US government.

 

US Government-linked wallet loses $20 million in suspected hack

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US holds direct talks with Hamas

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U.S President Donald Trump

US holds direct talks with Hamas

The United States on Wednesday confirmed unprecedented direct talks with Hamas on hostages, as Israel threatened to renew its military campaign in Gaza despite a fragile ceasefire.

The White House said that President Donald Trump’s envoy on hostage affairs, Adam Boehler, held the talks which focused on Americans among the remaining hostages in Gaza.

“Israel was consulted on this matter,” White House Press Secretary Karoline Leavitt told reporters.

“Look, dialogue and talking to people around the world to do what’s in the best interest of the American people is something that the President” believes is right, she said.

The United States had refused direct contact with the Palestinian militants since banning them as a terrorist organization in 1997. But Leavitt said that the hostage envoy in his role “has the authority to talk to anyone.”

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Israeli Prime Minister Benjamin Netanyahu’s office confirmed Israel was consulted and said in a statement that it “expressed its opinion” on direct talks.

The talks were first reported by Axios, which said Boehler met with Hamas in Qatar about the US hostages but also as part of a longer-term truce.

Five Americans are believed to remain among the hostages seized in the massive October 7, 2023 attack on Israel. Four of them have been confirmed dead and the other, Edan Alexander, is believed to be alive.

– Warning by Israel –

The first phase of a ceasefire ended over the weekend after six weeks of relative calm that included exchanges of Israeli hostages for Palestinian prisoners held in Israeli jails.

While Israel has said it wants to extend the first phase until mid-April, Hamas has insisted on a transition to the second phase, which should lead to a permanent end to the war.

But Israel announced at the end of the first phase that it was halting all entry of goods and supplies into Gaza, which has been reduced to rubble after the relentless year and a half of Israeli operations.

US holds direct talks with Hamas

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Supreme Court rejects Trump bid to freeze $2bn foreign aid

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U.S President Donald Trump

Supreme Court rejects Trump bid to freeze $2bn foreign aid

A divided US Supreme Court handed a legal defeat to President Donald Trump on Wednesday, rejecting his bid to freeze some $2 billion in foreign aid payments.

The court, in its first significant ruling on a legal challenge to the Trump administration, voted 5-4 to uphold a lower court order requiring that payments be made on aid contracts that have already been completed.

The justices said the federal judge who ordered the resumption of payments for contracts with the US Agency for International Development (USAID) and State Department “should clarify what obligations the Government must fulfill.”

Conservatives John Roberts, the chief justice, and Amy Coney Barrett, a Trump appointee, voted with the three liberal justices on the nine-member Supreme Court.

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Judge Samuel Alito wrote a dissent that was joined by the three other conservative justices.

“Does a single district-court judge who likely lacks jurisdiction have the unchecked power to compel the Government of the United States to pay out (and probably lose forever) 2 billion taxpayer dollars?” Alito wrote.

“The answer to that question should be an emphatic ‘No,’ but a majority of this Court apparently thinks otherwise. I am stunned,” he said.

District Judge Amir Ali, an appointee of former president Joe Biden, issued a temporary restraining order last month prohibiting the Trump administration from “suspending, pausing, or otherwise preventing” foreign assistance funds.

Trump has launched a campaign led by his top donor Elon Musk, the world’s richest person, to downsize or dismantle swaths of the US government.

The most concentrated fire has been on USAID, the primary organization for distributing US humanitarian aid around the world with health and emergency programs in around 120 countries.

 

Supreme Court rejects Trump bid to freeze $2bn foreign aid

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Arab leaders approve $53bn alternative to Trump’s Gaza plan

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The UN says more than 90% of homes in Gaza are destroyed or damaged

Arab leaders approve $53bn alternative to Trump’s Gaza plan

A $53bn (£41.4 billion) reconstruction plan to rival President Donald Trump’s idea for the US to “take over Gaza” and move out more than two million Palestinians has been approved by Arab leaders at an emergency summit in the Egyptian capital Cairo.

“The Egypt plan is now an Arab plan,” announced the secretary general of the Arab League Ahmed Aboul Gheit at the end of this hours-long gathering.

Without referring specifically to President Trump’s ideas, he underlined that “the Arab stance is to reject any displacement, whether it is voluntary or forced”.

Egypt had produced a detailed blueprint, with a 91-page glossy document including images of leafy neighbourhoods and grand public buildings, to counter a US scheme labelled as a “Middle East Riviera” which shocked the Arab world and beyond.

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What sets this new plan apart is it is not just about property development; its banners are politics and the rights of Palestinians.

In his opening remarks, Egypt’s President Abdul Fattah al-Sisi also called for a parallel plan alongside the physical reconstruction to move towards what is known as the two state solution – a Palestinian state alongside Israel. This is widely seen by Arab states, and many others, as the only lasting solution to this perpetual conflict, but it is firmly ruled out by Israel’s Prime Minister Benjamin Netanyahu and his allies.

This new plan proposes that Gaza would be run, temporarily, by a “Gaza management committee under the umbrella of the Palestinian government” comprised of qualified technocrats.

It glosses over the issue of what role, if any, Hamas, will play. There is a vague reference to the “obstacle” of militant groups and said this issue would be resolved if the causes of the conflict with Israel were removed.

Some Arab states are known to be calling for the complete dismantling of Hamas; others believe those decisions should be left up to the Palestinians. Hamas is said to have accepted it will not play a role in running Gaza but has made it clear that disarming is a red line.

Israel’s Prime Minister Benjamin Netanyahu, who has described President Trump’s plan as “visionary”, has repeatedly ruled out any future role for Hamas, but also for the Palestinian Authority.

The other sensitive issue of security was dealt with by calling on the UN Security Council to deploy international peacekeepers.

And a major international conference will be held next month to raise the huge sums of money necessary for this rebuilding project.

Wealthy Gulf states appear willing to foot some of the colossal bill. But no one is ready to invest unless they are absolutely convinced buildings won’t come crashing down in another war.

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A fragile ceasefire which now seems to be on the brink of collapse will only amplify that hesitation.

This new Arab plan to rebuild Gaza would unfold in three phases including an initial period of about six months, called the early recovery stage, to start clearing the massive amounts of rubble as well as unexploded ordinance. Two subsequent stages would last several years.

During this time displaced Palestinians, said to number 1.5 million, would be housed in temporary containers. Photographs in the glossy brochure present them as well-built and designed housing units set in pretty landscaped areas.

President Trump continues to wonder aloud “Why wouldn’t they want to move?” His description of Gaza as a “demolition site” underlines how the territory lies in utter ruin. The UN says 90% of homes are damaged or destroyed.

All the basics of a life worth living, from schools and hospitals to sewage systems and electricity lines, are shredded.

The US President deepened the shock and anger around his ideas when he posted an AI-generated video of a golden Gaza on his Truth Social account which featured a shimmering statue of himself, his close ally Elon Musk enjoying snacks on the beach, and he and the Israeli leader Benjamin Netanyahu sunning themselves, shirtless. All to a catchy tune, with lines like “Trump Gaza is finally here”.

“They had President Trump in mind,” remarked one Western diplomat who attended a briefing about Egypt’s plan at the foreign ministry in Cairo. “It’s very glossy and very well-prepared.”

Cairo’s proposal is said to have drawn on a wide range of expertise, from World Bank professionals on sustainability, to Dubai developers on hotels.

There are also lessons learned from other ravaged cities which rose from the ruins including Hiroshima, Beirut, and Berlin. And the proposed designs are also influenced by Egypt’s own experience in developing its “New Cairo”, its grand megaproject which has seen a new administrative capital rising from the desert – at great expense.

The American President has said he won’t “force” his ideas on anyone but still insists his plan is the one “that really works”.

Now it is up to the Arab states and their allies to prove that their plan is the only plan.

Arab leaders approve $53bn alternative to Trump’s Gaza plan

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