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

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