Hacker Returns $20M to US Government
A government-affiliated wallet successfully retrieved $19.3 million out of the $20 million that was allegedly hacked earlier this week.
According to a post from crypto analytics firm Arkham on social media platform X, this amounts to 88% of the total lost funds, recovered within 24 hours of the security incident.
On October 24, a wallet linked to the US government was reported to have lost over $20 million worth of cryptocurrency, including $14 million in AUSDC stablecoin, $5.4 million in USDC, $1.1 million in USDT, and $500,000 in ETH.
The reason for the loss was initially unclear, but both Arkham and crypto investigator ZachXBT suggested that the movements of the funds pointed to malicious activity.
The perpetrator had transferred the funds to non-custodial applications in an apparent attempt to launder the stolen cryptocurrency. Interestingly, the funds had been untouched for over eight months before the incident on October 24.
