news Criminal Crypto Mastermind Begins Moving Stolen Bitcoin (BTC) From $72 Million Hack

[Syedbesharat 5423]

This is a bad news now those hackers  will creat pump and dump in market.Where more people will be effected .The government must have to arrested those  hackers before they ruin crypto market.They will be planning to make BTC jump and then sell their stolen BTC.

[BitcryptoHan 2557]

15 hours ago, Cammer said:

Also, the free VPNs are accessible by all people. But paid Proxies are only accessible by their onwer with a username and password. 

I have used both free VPN and pain ones before, the paid also have more features like connecting to the state states provided, you can choose different countries, and lime USA or canada or london, you can choose as many as possible states, which are not on free ones. It even still have more features than this. 

[gourav789 2834]

@Cammer yes you are right , this type of hacks is really bad for reputation of Crypto Market in public . this is the only reason That New user denid to used Crypto market , hopefully in future we see good security .

[Cammer 4609]

39 minutes ago, BitcryptoHan said:

I have used both free VPN and pain ones before, the paid also have more features like connecting to the state states provided, you can choose different countries, and lime USA or canada or london, you can choose as many as possible states, which are not on free ones. It even still have more features than this. 

Also, paid VPNs are way faster than the free ones because not everyone have access to the paid ones. Good idea to buy a VPN. 

[guatazoo 7150]

On 5/23/2020 at 6:11 PM, Bohana said:

The hacker behind the $72 million heist on the Bitfinex exchange in 2016 appears to be moving more of the stolen Bitcoin.

Whale Alert reports that the hacker’s account shifted 28.39124 BTC, worth $261,600 at the time of writing, to an unknown wallet

In August 2016, Bitfinex was hacked for more than 119,756 BTC, worth roughly $72 million at the time. That same total is worth more than $1.1 billion today.

Last May, the infamous whale behind the attack unfroze the stolen funds for the first time in three years, moving 550 BTC to 15 separate, new addresses. Then in June, the hacker moved 172 Bitcoin in 24 hours alone, processing five separate transfers to unknown wallets, the biggest of which was worth $640,002.

Information Source

Lol! I couldn't never thought that's bitfinex exchange also was got hacked such amount like this, before, so what was affecting bitfinex from that crisis. 

[BitcryptoHan 2557]

15 hours ago, guatazoo said:

Lol! I couldn't never thought that's bitfinex exchange also was got hacked such amount like this, before, so what was affecting bitfinex from that crisis. 

There are many exchanges that have been hacked before that people will not believe. That is why experts do say do not save coins on exchanges. 

[guatazoo 7150]

6 hours ago, BitcryptoHan said:

There are many exchanges that have been hacked before that people will not believe. That is why experts do say do not save coins on exchanges. 

I don't know why mostly exchanges only are got hacked, but I never heard if there have an wallet which got hacked, so dies this means exchanges doesn't have enough security?.

[BitcryptoHan 2557]

18 hours ago, guatazoo said:

I don't know why mostly exchanges only are got hacked, but I never heard if there have an wallet which got hacked, so dies this means exchanges doesn't have enough security?.

@guatazoo Yes, exchanges have low security, even the so called binance has been hacked before, up bit was even recently hacked, cryptopedia was hacked two times and many more. Unlike wallets, which are safer. Some wallet have been hacked before like the electrum wallet but it is not common to hack wallets like exchanges and also very good to use offline wallets which store private keys offline. 

[guatazoo 7150]

7 hours ago, BitcryptoHan said:

@guatazoo Yes, exchanges have low security, even the so called binance has been hacked before, up bit was even recently hacked, cryptopedia was hacked two times and many more. Unlike wallets, which are safer. Some wallet have been hacked before like the electrum wallet but it is not common to hack wallets like exchanges and also very good to use offline wallets which store private keys offline. 

But I don't understand why scammers are always not more than 10% of the exchange net worth, so does it means hackers do fair that's why they don't hack all funds. 

[George10 9932]

On 5/23/2020 at 5:17 PM, Bohana said:

It is easier to steal money through cryptocurrencies than it is through real money. That's one of the disadvantages of cryptocurrencies! I hope this scammer gets caught. 

Stealing money through cryptocurrency is found much easy by these scamers as compared to Fiat funds and this is one of the disadvantage that makes many to stay away from these blockchain technology let's hope in future there will be security ties that will reduce scam activities and catch scamers easily.

[Bohana 2143]

7 hours ago, George10 said:

Stealing money through cryptocurrency is found much easy by these scamers as compared to Fiat funds and this is one of the disadvantage that makes many to stay away from these blockchain technology let's hope in future there will be security ties that will reduce scam activities and catch scamers easily.

Yes especially when cryptocurrencies transactions cannot be traced or reversed. That means once the transaction has been made, you cannot undo it.

[Virgil dijk 1431]

This is really bad , the amount the hacker stole from the site is such a big amount of bitcoin, and this has led to the fall of the Bitfinex exchange, and many people lost thier funds, I hope someday we will be able to get rid of hackers and scammers.

[BitcryptoHan 2557]

19 hours ago, guatazoo said:

But I don't understand why scammers are always not more than 10% of the exchange net worth, so does it means hackers do fair that's why they don't hack all funds. 

@guatazoo I will say it is because hackers know that the more the coins they want to steal the more it can be difficult for them to get through. But, I am only just guessing. 

[Bohana 2143]

4 hours ago, Virgil dijk said:

This is really bad , the amount the hacker stole from the site is such a big amount of bitcoin, and this has led to the fall of the Bitfinex exchange, and many people lost thier funds, I hope someday we will be able to get rid of hackers and scammers.

Yes and people want their stolen money to be refunded. It is disastrous because this has lead to less people to trust cryptocurrencies. 

[TimopheyKa 3900]

I think that if this hacker does not turn out to be a stupid and naive child , he will be able to withdraw this cryptocurrency without any problems, and no one will know anything, and accordingly, he will remain unpunished! The recent situation with the Twitter hack - you heard, these guys were found! Because they were stupid and failed to hide their funds - they were found out!

[Moaz 7239]

This is really bad news that a platform like Bitfinex  is hacked and a large amount of Bitcoin is stolen without these hackers being arrested or held accountable. 
I think that developers in the crypto world should devise more effective means against the hack in the future.

[malik6314193 5449]

Now it is common to hack crypto exchanges. Some of these got hacked and some do scam with their users. People are confused to join crypto due to such incidents. If security of exchanges should be tight then more people will join it. 

[Captain Karim 0]

This hacker must be looking for a way to launder stolen money because he will fall into the problem of confiscating money as soon as it is deposited in the central exchange platforms, but the money laundering process is not complicated, especially in the cryptocurrency market, there are techniques using mixers that help him keep censorship away.

[Shaza Ahmad 1682]

I read an article a while ago that Bitfinex offered a big prize, I don't remember the number well, maybe more than 300 million dollars, for those who can deliver it to the stolen Bitcoin, but it did not find anyone to provide it with this service.

[yonkii 3205]

Bitfinex had a lawsuit as I read yesterday I think because of Tether and there is this hacker too that has the stolen bitcoin from an older hack. This makes Bitfinex looking very unstable to me. I am glad I selected Yobit as my exchange of selection and I will keep using Yobit as long as I can. Maybe the bitfinex users can see that it is a mistake to keep their crypto there and transfer to Yobit or another big exchange.

[Projectcrypto 4382]

4 hours ago, yonkii said:

I am glad I selected Yobit as my exchange of selection and I will keep using Yobit as long as I can.

You can say that again mate because yobit exchanger is very good and strong in terms of security which is why it has earned good reputation from many people around the world within a short period of time, it is due to it strong security the forum choose to work with it so that we can make withdrawal without any fear and problems.

[percare 3192]

Bitfinex is tracking these Bitcoins and it will be very hard for the hacker to find a way to hide the tracks. I have read more later about the moves that happened to these coins and it is interesting to see where they will end, but it will probably be many years later as the hacker has patience.

[Sykkuno 2887]

The Bitfinex hack was remarkable! I'm impressed this is 120,000 Bitcoin? It is enormous and comparable to the top hacks and perhaps the second bigger next to mtgox, correct if I'm wrong. With the price today this hack then is 1,4 Billion dollars! This is enormous and what the hacker can do, he will be feeling pressure as this money will be traced by everybody.

[Rosarvx 965]

reduce confidence in cryptocurrency and automatically has a negative impact on the price, stay away from these blockchain technology

[BrolySSJ 7899]

It seems that this hacker has waited quite a while after the hack took lace before moving the funds. I guess he did that as a way for him to try and not be suspicious in his transaction, hoping that if he had to wait some time, then the hack will not be traced back to him. Unfortunately with such a large transaction taking place it is natural to get a whale alert on many of the platforms which will inevitably lead to him. I wonder if they can use this transaction as a way to track him and his ip address.