Record High Seizure of $8 Billion in Stolen Bitcoin
The highest seizure took place recently by the US authority over the stolen cryptocurrencies and found up to $5 Billion.
A hacker stole the cryptocurrency that is worth 120,000 Bitcoin in 2016 and this Bitcoins has a value of $5 billion. The alleged crime is said to happen with the Bitfinex cryptocurrency exchange.
Highlighted Facts
- The platform from where such a hack was made is known as the Bitfinex in 2016.
- As per the website, the attacker has made a total of 2000 unauthorized transactions.
- The imprisonment is set up by the US judicial court up to 25 years in jail.
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The alleged crime which has been made by the attacker over the crypto space is the biggest of its kind and the US official has seized the currency by the US Department of Justice.
The crypto that was stolen by the hacker at that time from Bitfinex was worth $70 million in 2016. With the rise of the value of cryptocurrency, its value is worth $5 billion.
Kenneth Polite, the Attorney General of the US said the seizure is proof “that government will not allow cryptocurrency to be a haven for money laundering or a zone of lawlessness within our financial system.”
The money which has been confiscated by the US regulatory from the specific platform in 2016 in Bitfinex.
As per the official news, the hacker was breaching the platform to which he made around 2000 unauthorized transactions and after it, he funneled the money into a digital wallet allegedly which is run by Ilya Lichtenstein, he belonged to New York and was aged about 34.
Lichtenstein and his wife Heather Morgan were both named in the complaint having a criminal nature. The source reveals the fact that about 25,000 Bitcoin was stolen from different accounts, from different platforms. Both have also covered their tracks and used fake accounts for converting Bitcoin into any other currency.
The probe regarding the matter is being investigated by the US officials including with German regulators. The US judicial committee has statuted a law for the imprisonment of a minimum of 25 years.