A crypto wallet dedicated to the failed BTC-e, attributed to the 2014 Mt. Gox hack, moved 10,000 bitcoins worth over $165 million to a group of personal wallets, exchanges, and other services on Nov. 23.
A Chainalysis report indicated that the movement of funds represents the largest payout by the Russia-focused cryptocurrency exchange – the controllers of BTC-e. US authorities ceased operations in 2017 due to their role in laundering money related to other forms of cybercrime, including crypto stolen in the 2014 Mt. Gox exchange hack.
- BTC-e and another exchange called WEX, which is believed to be the successor organization, sent small amounts of bitcoin to a Russian electronic payment platform — Webmoney — on Oct. 26. Over two weeks later, BTC-e made a test deposit from its wallet before indirectly transferring nearly 100 Bitcoin to an exchange on Nov. 21.
- According to the Blockchainanalysis company currently has around 9,950 BTC in personal wallets out of the total sent over the past few days. The rest of the funds were found to have been transferred through a series of intermediaries to four deposit addresses on two major exchanges.
- Chainalysis believes a Russian exchange may have acted as an intermediary to launder this BTC e-money.
- Ki Young Ju, co-founder and CEO of blockchain analytics company CryptoQuant Approved the unauthorized transfer of funds. He also added that 65 BTC was moved to HitBTC and advised the crypto exchange to suspend the account.
7 year old 10,000 $BTC moved today.
No wonder it originated from criminals like most old bitcoins. It is the BTC e-wallet associated with the 2014 Mt. Gox hack.
— Ki Young Ju (@ki_young_ju) November 24, 2022
- For the uninitiated, BTC-e was shut down and its funds seized by the Federal Bureau of Investigation (FBI) in 2017. Despite this, it still contained a significant amount of Bitcoin. A year later, it transferred more than 30,000 BTC from its serviceWallet.
- Alexander Vinnik is said to be the owner and operator of the BTC-e. The Russian national is also accused of large-scale money laundering through the now-defunct trading platform and other offences.
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Source: Crypto News Deutsch