10K BTC Linked to Mt. Gox Hack Moved After Seven Years

At present, most investors have their eyes attached to the Bitcoin candle wicks. Analysts and retail investors are hanging on to every single Bitcoin movement and development in the cryptocurrency markets. The latest development that has gotten the rumor mills churning is the revival of an ancient Bitcoin wallet.

This wallet has been attached to the hack reserve that has been connected to the Mt. Gox hack attack. It is important to mention here that Mt. Gox was one of the earliest cryptocurrency exchanges. The wallet seemingly contains around 10 thousand Bitcoins valued at $165 million.

Chainalysis’s Report

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Chainalysis has tracked and reported the movement of the Bitcoin whale that has recently awakened. The report suggests that the BTC-e link is connected to a Russian cryptocurrency exchange that was seized by US agencies on account of money laundering allegations in 2017. The same wallet has been attributed to contain Bitcoin reserves from the hack attack on Mt. Gox in 2014.

The BTC-e wallet and another cryptocurrency exchange named WEX had been sending small amounts of Bitcoins to a Russia-based Bitcoin wallet called Webmoney.

The movements had been live since October 26th, and until November, it sent around 100 Bitcoins. As per the Chainalysis report, the Bitcoin wallet has continued to send Bitcoins for the last several days.

Chainalysis analysts have interjected that the Russian cryptocurrency exchange might have been working in tandem with Bitcoin-e whale. The illicit transfer of Bitcoin funds has also been confirmed by CryptoQuant CEO Ki Young Ju. Young also reported that around 65 Bitcoin were sent to HitBTC address.

He also made a formal request to the Russian cryptocurrency exchange to freeze the wallet activity. It is important to note that the funds of the BTC-e wallet were seized under the law by the FBI in 2017.

However, it was not possible to break into the wallet, and around 30K Bitcoins were sent outside of the wallet after a year. The purported owner of the BTC-e wallet is Alexander Vinnik, who also has several counts of money laundering charges and other financial crimes to his name.

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