The arrests in the Bitfinex hack case show laundering $4.5 billion in crypto isn't easy 👇
Morgan and Lichtenstein are believed to have opened seven accounts on one crypto exchange — but their access was frozen because the identities they had used could not be verified. This effectively leftBut not all trading platforms enforced checks that were this robust. They also used another exchange that allowed crypto to be exchanged for prepaid debit cards — spending the funds on Uber rides, Hotels.com bookings and buying a PlayStation.
Bitfinex had established a new cryptocurrency called UNUS SED LEO back in 2019 following a series of setbacks. As well as this hack, the exchange's payment processor was subject to a partial government seizure of its funds in 2018.
"This is very likely to have a major impact on future sophisticated and institutional investors' evaluation of counterparty risk in the space. To know that even a hack from a more nascent time in the industry six years ago can be resolved will be mind-changing insight for many." The maturity of the cryptoasset space has also led to the creation of several blockchain intelligence firms — specialists who are tasked with helping law enforcement agencies monitor the flow of cryptocurrencies that are stolen.
Late last year, a rehabilitation plan was also established for those affected by the Mt. Gox collapse in 2014 — whenwas later recovered, and the surge in Bitcoin's dollar value means that many of the victims will be turned into overnight millionaires.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dallas City Council Approves Plan For New $4 Billion Convention Center And DistrictThe Dallas City Council is going forward with its plans to replace the Kay Bailey Hutchinson Convention Center with a new 2.5 million square foot building and several new amenities.
Read more »
Parma’s Spitzer Motor City dealership planning $4 million expansion of Brookpark Road locationThe 14,000-square-foot project includes a new customer lounge, new roofing, LED lighting and added service bays. Once the renovation is finished (likely by the end of 2022), Spitzer Motor City will increase from 60 to 90 employees.
Read more »
![Digital Rupee? And Bitcoin at Two-Week Highs [ Crypto Espresso 02.07.22 ]](https://i.headtopics.com/images/2022/2/8/coinmarketcap/coinmarketcap-1490996647182143489.webp?w=640)
Digital Rupee? And Bitcoin at Two-Week Highs [ Crypto Espresso 02.07.22 ]For more information about crypto and today's stories, just Ask Alex: https://CoinMarketCap.com/Alexandria/🔵 CoinMarketCap Daily: • Bitcoin at Two-Week High...
Read more »
![Russia Will Treat Bitcoin as a Currency & Bitfinex Suspects Found [ Crypto Espresso 02.09.22 ]](https://i.headtopics.com/images/2022/2/10/coinmarketcap/coinmarketcap-1491608272213876739.webp?w=640)
Russia Will Treat Bitcoin as a Currency & Bitfinex Suspects Found [ Crypto Espresso 02.09.22 ]For more information about crypto and today's stories, just Ask Alex: https://CoinMarketCap.com/Alexandria/🔵 CoinMarketCap Daily: • Heather Morgan: Bitfinex...
Read more »
The Big Dumb Bitcoin-Laundering Scheme (Feat. Bad Rap)FBI agents arrested Heather Morgan, a.k.a., amateur rapper Razzlekhan, and her husband as part of an alleged Bitcoin-laundering scheme. Watch the videos for some of Razzlekhan's songs, about crypto and being an entrepreneur and a hot grandma
Read more »
'I Felt Shocked': Transphobic Abuse Sent on Blockchain | CoinMarketCapTransphobic abuse is being sent on the Ethereum blockchain ❌ It was directed to someone who had criticized ex-Ethereum Name Service boss Brantly Millegan for his past tweets 🚨 ConnorSephton spoke to the person who received the hateful message:
Read more »