The United States Justice Department has seized the highest number of Bitcoin allegedly stolen from the cryptocurrency exchange Bitfinex. This is one of the biggest captures of cryptocurrency, a law enforcement agency. The department of Justice has acquired these Bitcoin stolen during the 2016 security breach of Bitfinex from an American couple, Ilya Lichtenstein and Heather Morgan. The couple has suspected of conspiring to transfer 119,754 Bitcoin (BTC) worth $4.5 Billion.
The department confirms that the funds were transferred via the online wallet that Ilya Lichtenstein controlled. In addition to taking the amount of $4.5 billion, The couple could be responsible for initiating over 22,000 illegal transactions that allowed them to access the unjustified money of Bitfinex users.
As per the US Justice Department, it is one of the most notable instances relating to crimes committed with cryptocurrency. The information available indicates it was the case that Lichtenstein and Morgan tried to hide their actions through creating and initiating many blockchain transactions. The careful observation of the whole procedure by law enforcement officials allowed them to discern the truth and identify those accountable for the transactions and money laundering efforts. This incident also demonstrates the greater effectiveness of the criminal justice system when it comes to investigating crimes within the realm of digital assets, such as those involving Bitcoin.
As per this report from the Department of Justice, the virtual assets are seized through legal proceedings.
“After the execution of court-authorized search warrants of online accounts controlled by Lichtenstein and Morgan, special agents obtained access to files within an online account controlled by Lichtenstein. Those files contained the private keys required to access the digital wallet that directly received the funds stolen from Bitfinex and allowed special agents to lawfully seize and recover more than 94,000 bitcoin that had been stolen from Bitfinex.”
The British Virgin Islands-based exchange was not able to find the hacker who is responsible for this one of the biggest theft of digital assets. However, it has offered compensations for individuals who could find the person behind this hack. Law enforcement agencies involved in the investigation of digital assets contrast the claim of people who consider Bitcoin as a medium for illegal transactions and unlawful actions.
Kevin has a huge interest in the Crypto world, he is a firm believer in blockchain technology. Kevin is working as Journalist with Coinfea.