• Following a $20M theft from U.S. wallets, hackers returned $19M less than 24 hours later, comprising 88% of the stolen assets.
• The recovered funds were mainly Aave (USDC) worth $13.19M, with the rest in USDC tokens and Ethereum, returned to U.S. wallets.
• Hackers had initially transferred assets to multiple non-custodial wallets, sparking a swift investigation into the high-profile breach.

Hackers who breached U.S. government crypto wallets returned a substantial $19.3 million within 24 hours of the initial heist. The theft, estimated at around $20 million, targeted digital assets managed by federal authorities, leading to one of the fastest recovery events in the crypto sector.

Crypto Wallets Breached, Massive Funds Stolen

On October 24, on-chain data detected unauthorized transactions from U.S. government wallets, redirecting digital assets linked to past cybercrimes. Blockchain detectives, including ZachXBT and Arkham Intelligence reported the breach early on, tracing the stolen funds to various non-custodial wallets. The compromised assets comprised mainly Aave (USDC), with a value of $13.19 million, while the remaining amount included USDC tokens and Ethereum valued in the millions.

Hackers returned approximately 88% of the stolen assets to U.S. government wallets, amounting to $19.3 million. The unexpected return fueled curiosity and raised questions across the crypto community. Speculation abounded regarding the motivation behind the quick return whether from fear of governmental action or an intent to avoid heightened penalties.

Return Spurs Speculation on Hacker Motives

The sudden restitution has drawn comparisons to previous instances, including the 2016 Bitfinex hack, which similarly saw partial returns of stolen funds. The U.S. government had initially seized these assets following a crackdown on financial crime linked to Bitfinex. Authorities recently secured indictments related to these historic crypto crimes, adding to speculations about the future steps federal agencies may take.

The U.S. Department of Justice has ramped up efforts to track crypto-related financial crimes, culminating in significant seizures. Recent cases, including the arrests tied to the $8 billion Bitfinex hack, have set precedents, signaling increased scrutiny of crypto assets under government custody. As this latest incident unfolds, federal investigators continue their inquiry, likely focusing on how the initial breach occurred and whether additional arrests could follow.

The post U.S. Government Recovers $19M from Hackers in Under 24 Hours appeared first on Crypto News Land.

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