On October 25, COINOTAG reported that an on-chain analysis revealed a notable movement from a US government address linked to the Bitfinex hacker. Specifically, the address executed a withdrawal of $6.57 million in stablecoins from the decentralized lending platform Aave. Approximately thirty minutes following this withdrawal, the funds were redirected to 0x3486ee700ccaf3e2f9c5ec9730a2e916a4740a9f, where a significant transaction took place. Here, around 5.45 million USDC was converted into 2,135.27 ETH, highlighting the continued interest in Ethereum amidst a series of market fluctuations. While the precise implications of these movements remain undetermined, they underscore the importance of monitoring on-chain data for insights into potential trends in the cryptocurrency domain. As the situation unfolds, stakeholders are advised to maintain vigilance regarding further developments.
Source: https://en.coinotag.com/breakingnews/usdc-moved-to-2135-27-eth-analyzing-the-6-57-million-stablecoin-withdrawal-by-us-government-address/