A hacker has stolen $20 million worth of cryptocurrency from a wallet linked to the US government, according to blockchain analytics firm Arkham.
The Heist
The stolen crypto includes USDT, USDC, aUSDC, and ETH. The hacker is now selling these assets for ETH and moving them through a suspicious address associated with a money laundering service.
The government wallet had been inactive for eight months before the hack. This incident follows a string of other government-related crypto movements.
Previous Government Crypto Transfers
In July, a different government wallet moved over $2 billion worth of Bitcoin, likely representing a deposit to an institutional custody service. In April, another government wallet sent $131 million worth of seized Bitcoin to a Coinbase Prime wallet.
CryptoQuant research head Julio Moreno confirmed that 2,000 Bitcoin from this transfer were sold. These coins were originally seized from James Zhong, who was convicted of manipulating transactions on the Silk Road.
Important Note:
This information is for general knowledge only and should not be considered investment advice. Always do your own research before making any investment decisions.
