The FBI Just Seized Over $3.6 Billion in Bitcoin from the August 2016 Bitfinex Hack

[Golden Fleece]

The FBI has seized over $3.6 billion in Bitcoin from the August 2016 Bitfinex hack, representing the U.S. Justice Department's largest-ever financial seizure.

Cases like these demonstrate that the Justice Department "can follow money across the blockchain, just as we have always followed it within the traditional financial system," said Kenneth Polite, assistant attorney general of the department's Criminal Division.
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https://www.newsmax.com/finance/str...ey-laundering-bitfinex/2022/02/08/id/1055999/
BTW: It always astounds me how these criminal masterminds always remain in the U.S. after pulling off these heists. They had almost five years to disappear anywhere in the world with billions in assets. Instead, they remained in the country with the most sophisticated law enforcement agencies. Not sure whether it is hubris, stupidity, or both.

 

[KDX]

Prosecutors said on Tuesday the illegal proceeds were spent on a variety of things, from gold and non-fungible tokens to "absolutely mundane things such as purchasing a Walmart gift card for $500."
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Absolutely ridiculous... Come on..

I'm surprised they weren't caught earlier!

 

[NicolasMaduro]

Imagine pulling of a heist of this size and being completely incompetent at the same time

 

[JohnLocke]

They may be smart people just doing stupid things 😉

I agree, why stay if you have sufficient of time to get out of the country.

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[realitybyte]

The technology for tracking bitcoin and other crypto movements is developing moment by moment, and because the blockchain is both public and forever it's really just a matter of time before the technology may catch up. That might be a bit terrifying for people who were doing something shady 5 years ago and now the records are finally getting looked at.

I think the best way would be to air-gap your use of the blockchain by getting out to fiat and then back in using multiple parties that don't keep records. But that's pretty tough to do fast when you're talking about more than a few hundred grand.

 

[CaptK]

I wouldn't read to much into it. BITFINEX offered a 400M reward for the return of the 3.6B not long ago. ALL OF A SUDDEN THEY FIND THE CULPRITS!!!

It was already an FBI case and they couldn't let the opportunity go without showing the world they are “the best in the world”. A deal was struck between the the hackers and the FBI. They do a bit of jail time then will be released and probably get to keep about 50M.

Let's be honest those guys could have airdropped 100M to 100K wallets they didn't know who the owners are. Then used that as a distraction to convert the BTC using tumblers and Monero. They would have made enough to retire anonymously.
And continue to keep airdropping accounts regularly to keep the FBI busy.

 

[Martin Everson]

Golden Fleece said:
They had almost five years to disappear anywhere in the world with billions in assets. Instead, they remained in the country with the most sophisticated law enforcement agencies. Not sure whether it is hubris, stupidity, or both.
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You would have thought they would vanish like Ruja Ignatova with her $4bn onecoin ponzi.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[CaptK]

Just like the Cajee brothers from South Africa living their best life in Dubai. Its only 6 months from their heist. These guys had 10x the amount of time lol.

 

[troubled soul]

CaptK said:
It was already an FBI case and they couldn't let the opportunity go without showing the world they are “the best in the world”. A deal was struck between the the hackers and the FBI. They do a bit of jail time then will be released and probably get to keep about 50M.
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Agree, Some deal has been made. You can get the clue by reading the Full report

Attachments​

• 
  statement_of_facts_pacer.pdf
  1.6 MB · Views: 92

 

[Risehigh]

azb1 said:
Agree, Some deal has been made. You can get the clue by reading the Full report
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Do you have a link and no doc cor that?

 

[troubled soul]

Risehigh said:
Do you have a link and no doc cor that?
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I attach the full report dear
https://www.justice.gov/opa/press-release/file/1470211/download

 

[Risehigh]

azb1 said:
I attach the full report dear
https://www.justice.gov/opa/press-release/file/1470211/download
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Thanks so much 🙂

 

[OTR365]

Golden Fleece said:
It always astounds me how these criminal masterminds always remain in the U.S. after pulling off these heists.
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It amazes me, too. For example, Ross Ulbricht run the darknet marketplace Silk Road while living in the U.S. - the most high-risk place imaginable. Similarly Italian mafiosos rack up hundreds of millions, yet for years live in a pit dug under their mommy's kitchen, hiding from carabinieri. Instead, they could live like kings on a hacienda somewhere in South America, probably with less risk too.

What was not mentioned with this Bitfinex hack was whether the hacker had any connection to the company or if it was a clean hack, done from outside. For years there were no clues whatsoever, so an inside connection was suspected.

Bitfinex/Tether guys aren't doing bad these days.

 

[troubled soul]

OTR365 said:
It amazes me, too. For example, Ross Ulbricht run the darknet marketplace Silk Road while living in the U.S. - the most high-risk place imaginable. Similarly Italian mafiosos rack up hundreds of millions, yet for years live in a pit dug under their mommy's kitchen, hiding from carabinieri. Instead, they could live like kings on a hacienda somewhere in South America, probably with less risk too.
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True, But When You have around $4 billion unhidden. salute to couple patient and mental strength. If you believe the FBI report, Hacker couple store the private key in single spreadsheet and some keys are not even encrypted.
Even after hack, hacker heather Morgan contribute the forbes. I share the link.
https://www.forbes.com/sites/heathermorgan/?sh=8fb71077f7d3
Keep in Mind She write these article after the hack. Basically First billionaire Forbes writer.

Both husband and wife create some business to launder the money. What silly mistake they done is mystery ??
There are so many things are secret as it seems.

Wife seems have mental disorder (Bipolar disorder)
(Razzlekhan Razzlekhan is like Genghis Khan, but with more pizzazz )

Hard to believe this girl is Forbes writer.

but the Husband is super calm and no sign of Mental problem.
I do not know what went wrong ??

Last edited: Feb 13, 2022

 

[JohnLocke]

I have no words for this. But now I don't any longer why they didn't got out of the US in time.

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[Martin Everson]

azb1 said:
Hacker couple store the private key in single spreadsheet and some keys are not even encrypted.
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"The connection among the VCE 1 accounts was further confirmed upon reviewing a spreadsheet saved to LICHTENSTEIN's cloud storage account. The spreadsheet included the log-in information for accounts at various virtual currency exchanges and a notation regarding the status of the accounts."

Humm.....One reason never to trust cloud storage. Wonder if this was stored on FBI Drive......sorry Microsoft OneDrive or Google Drive smi(&%.

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[troubled soul]

Which cloud storage should be trusted???
Do you have any recommendation ?

 

[Risehigh]

Martin Everson said:
"The connection among the VCE 1 accounts was further confirmed upon reviewing a spreadsheet saved to LICHTENSTEIN's cloud storage account. The spreadsheet included the log-in information for accounts at various virtual currency exchanges and a notation regarding the status of the accounts."

Humm.....One reason never to trust cloud storage. Wonder if this was stored on FBI Drive......sorry Microsoft OneDrive or Google Drive smi(&%.
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Thought the same, might be also why it was never mentioned how it was cracked and encrypted.
Big mistake, when I read it I thought again laziness kills security setups, online + all in one file lol.
But they atleast tried to be dedicated

 

[RealDude]

Reminder: Use E2E encryption for everything and 2FA with e.g. YubiKey

 

[Martin Everson]

azb1 said:
Which cloud storage should be trusted???
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Absolutely none of them and I mean none.

azb1 said:
Do you have any recommendation ?
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Anything private that you want to keep on a cloud drive encrypt it yourself before placing there. Never believe a word about the cloud providers claims to encryption....lol.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.