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Hackers Appear to Return Millions in Stolen U.S. Gov Crypto Holdings
In a strange reversal, an assumed hacker has apparently returned $19M worth of stolen U.S. government crypto.
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The U.S. government appears to have just faced one of its most significant crypto hacks ever, but the debacle has turned into a second chance as the attacker(s) responsible have now returned the vast majority of the funds.
What’s the scoop?
- Onchain Hack?: Approximately $20 million in crypto, including stablecoins and ETH, appeared to have been stolen yesterday from a U.S. government wallet, as revealed by blockchain trackers like Arkham Intelligence and ZachXBT.
- Bitfinex Hackers?: The theft was linked to addresses holding assets from a previous Bitfinex hack, and suspicious activity pointed to attempts at laundering the funds through various non-custodial exchanges.
- Quick Return: Today, most of the stolen crypto—$19.3 million—was returned, with 88% of the total amount now back in government hands.
Bankless Take:
This swift, surprising recovery stands out in the history of crypto heists, especially with the complexity and high stakes surrounding seized government crypto holdings. Whether it signals a change in hacker tactics or pressure behind the scenes remains to be seen, but it's likely we'll learn more in time. Either way, it's safe to assume the U.S. government will be doubling down on its crypto security going forward.