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

[Bohana 2143]

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

[Bohana 2143]

2 minutes ago, MarsDota2 said:

It is really a bad news that got us but there is a rumor that there are hackers that still has a conscience on their self.thsy makes them return what they stole with an amount of about $25,000 so we just need to hope that those scammers also have it.

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. 

[Cammer 4609]

7 minutes ago, 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

That is some terrible news. These scammers really harm the reputation of crypto currencies and especially Bitcoin. He should be charged to return everything he stole in Bitcoin in order to help it.

[magd 5231]

This theft is the reason in the recent news that Bitfinex closed its doors in the face of the traders and did not return any money to the traders on it. We hope that the platform administration will clarify the theft that took place so that other platforms can avoid the matter and I do not think that the thieves will return the money

[Bohana 2143]

5 hours ago, MarsDota2 said:

Those scammers are already getting caught by the scammers that crypto admins and moderators hire because it is their job to take out the scammers that gets inside the crypto currency so we don't need to worry about it.

I heard it is pretty hard to catch online scammers or digital scammers because they use proxies and identity hiders in order not to get caught. 

[Whited35 15285]

It is really not a good news. Criminal is getting the wrong benefits by stealing funds from the online cryptocurrency exchange platforms. Now he is one of the whale to manipulate the prices of Bitcoin according to his benefits, what would be the most worrying news than this one ? So we can expect the advanced technology to prevent the hackers and scammers. 

[BTC Future 3946]

Terrible news if the hacker begins selling them. I remember reading that Bitfinex had offered the hacker a deal, to return most of the stolen Bitcoins and they would allow him to hold a small percentage instead, without charging him. I am not sure first of all how Bitfinex managed to recover from this and paid withdraws all this time. Probably Tether was created for this reason and begun covering the liabilities. We do know of a lone that was given to Bitfinex from Tether and how it was also paid back, all according to Bitfinex though.

[Ridam 7455]

It's very bad deed of Crypto industry and for all of us as it also cause the price of btc to dump by certain percentage. And we should know that if exchanges like bitfinex could be hacked then sure our funds in exchanges aren't safe and even in mobile wallet too.

[BitcryptoHan 2557]

17 hours ago, 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. 

 I do not agree to this, there are money or fiat theft as well, and many brothers that are not well equiped with security will be hacked. Anything related to money are always attracted by hackers. 

[Bohana 2143]

24 minutes ago, BitcryptoHan said:

 I do not agree to this, there are money or fiat theft as well, and many brothers that are not well equiped with security will be hacked. Anything related to money are always attracted by hackers. 

Of course online scammers will have settled up everything they need to do their crime, from security equipment to the tools they need.

[Omar Ommeish 4872]

Hackers are very dangerous to cryptocurrencies because they can steal all of our money without feeling it. It is really bad.

[rekter 8129]

It actually amazes me how these people wouldn't get caught.

Moving big amounts is pretty easy to track and there are a lot of different solutions for tracking them. Most exchanges work with each other and can freeze the accounts and most fiat ramps require kyc or leave some sort of trace about indentity. Even selling it in otc leaves a trace if people involved would be interrogated.

 

I am guessing that either they have a good plan now to get rid of them or they are jst short of cash.

[Bohana 2143]

55 minutes ago, Jump said:

Yes i think that youbare right becsuse tracing them cpuld ve difficult and it is a lot different than catching bank thiefs and I think that it is really hard for the police to catch those who work behind a screen in online scamming or online hacking

It depends on the security of the scammers. If his security is low, he can be traced through a lot of ways and he will be captured. 

[Honny143 13612]

This stolen amount shows how much hackers do the demage for crypto currencies, basically hackers use advance technology but some of the mistake this exchange also, because they can't use strong security that's why hackers hack, in my opinion don't store our assets in one account use multiple accounts.

[Zaino34 0]

This is really bad news, and it is difficult to track these scammers through the internet, and this news makes many people afraid to work with encryption because the scammers are now in a place in the encryption.

[Bohana 2143]

23 hours ago, Zaino34 said:

This is really bad news, and it is difficult to track these scammers through the internet, and this news makes many people afraid to work with encryption because the scammers are now in a place in the encryption.

That is actually the very down side of this news. People will be more afraid after they read this news and their trust in cryptocurrencies will become lower.

[Cammer 4609]

On 5/23/2020 at 11:43 PM, Bohana said:

I heard it is pretty hard to catch online scammers or digital scammers because they use proxies and identity hiders in order not to get caught. 

Online hackers actually use high quality paid proxies to ensure that no one is able to track them. Also, they use some kind of GPS camouflage to hide their location.  

[Bohana 2143]

2 hours ago, Cammer said:

Online hackers actually use high quality paid proxies to ensure that no one is able to track them. Also, they use some kind of GPS camouflage to hide their location.  

This means that using VPN will not provide us full security and privacy. What do you think is the best solution to avoid getting hacked or scammed?

[Cammer 4609]

7 minutes ago, Bohana said:

This means that using VPN will not provide us full security and privacy. What do you think is the best solution to avoid getting hacked or scammed?

Using FREE VPN services is definitely not secure because all people have access to them. Paid VPNs or paid proxies are way more secure if you want my opinion. 

[ETheHedgehog 3104]

that's a large amount of bitcoins, and the thing is with crypto currencies they can sell those off the shelf to other wallets without anyone knowing so they can't trace back the original hacker

[Brand1 1336]

The pirates always steal similar to this process as they steal very large amounts of money from inside the exchanges and platforms and it is very bad that we cannot track down and arrest these people

[Bohana 2143]

20 hours ago, Cammer said:

Using FREE VPN services is definitely not secure because all people have access to them. Paid VPNs or paid proxies are way more secure if you want my opinion. 

I will buy NordVPN in that case because I am very interested in online security as 90% of my information is existed online on various sites.

[Cammer 4609]

6 minutes ago, Bohana said:

I will buy NordVPN in that case because I am very interested in online security as 90% of my information is existed online on various sites.

I respect your opinion about online security. And yes I suggest you buy a paid VPN because you will benefit a lot from it in securing your connections.

[BitcryptoHan 2557]

On 5/26/2020 at 12:27 PM, Cammer said:

I respect your opinion about online security. And yes I suggest you buy a paid VPN because you will benefit a lot from it in securing your connections.

VPN could help secure connection but the paid ones will be better because the free ones do comes with ads that can install malware on your wallet devices. 

[Cammer 4609]

2 minutes ago, BitcryptoHan said:

VPN could help secure connection but the paid ones will be better because the free ones do comes with ads that can install malware on your wallet devices. 

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