U.S. Seizes $3.6 Bln In Bitcoin Stolen In Bitfinex Hack.

U.S. Seizes $3.6 Bln In Bitcoin Stolen In Bitfinex Hack.

2022-02-09 | Selina Mathew

U.S. Seizes $3.6 Bln In Bitcoin Stolen In Bitfinex Hack.

As per The Washington Post, the US Department of Justice (DOJ) has confiscated $3.6 billion in cryptocurrency tied to a 2016 breach of the Bitfinex currency exchange, making it the largest cryptocurrency-linked confiscation ever.

Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, were detained in New York by police after they conspired to launder 119,754 coins hacked from the renowned cryptocurrency trading platform. Over 2,000 unlawful transactions were carried out by Lichtenstein and Morgan.

To hide their traces, they would create accounts with fictitious names, employ the "chain hopping" approach, and deposit money on dubious dark web marketplaces like AlphaBay.

Specialized operatives managed to acquire entry to Lichtenstein's cloud storage account after getting a warrant to search. They discovered a document with private keys to the associated wallets holding the stolen cash.

The two accused are scheduled to testify in the courtroom for the debut time on Tuesday.

Deputy Attorney General Lisa O. Monaco stated in her remarks that offenders will not be enabled to conceal their gains using cryptocurrency.

Federal agents were able to seize 94,000 coins linked to the historic theft, which marks among the most expensive cybersecurity incidents to date.

Approximately the very same sum of Bitcoin was moved from a digital wallet linked to Bitfinex hackers the previous week. The money was confiscated by officials on January 31.

The US authorities gave the go-ahead in November to liquidate $56 million in fraudulent earnings tied to main BitConnect advocate Glenn Arcaro.

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