![Breaking: Hackers of the once biggest Bitcoin [BTC] exchange arrested by US DoJ](https://i.headtopics.com/images/2023/6/9/cryptoamb/breaking-hackers-of-the-once-biggest-bitcoin-btc-e-breaking-hackers-of-the-once-biggest-bitcoin-btc-e-1667198619986939904.webp)
The United States Department of Justice [DoJ] announced the arrest of two Russians for hacking […]
The United States Department of Justice [DoJ] announced the arrest of two Russians for hacking the then-biggest Bitcoin [BTC] exchange – Mt Gox. The authorities have identified the hackers as Alexey Bilyuchenko and Aleksandr Verner. The case alleges that both individuals “gained unauthorized access to the server holding the cryptocurrency wallets for Mt Gox.”
Notably, the incident, which began around September 2011, saw the accused transfer Mt Gox’s BTC to an address controlled by them and their co-conspirators. Moreover, the accused continued to deploy this tactic at least until May 2014, resulting in 647,000 BTCs being stolen. And, these coins majorly belonged to customers. Currently, these Bitcoins are worth over $17 billion and would have been valued at more than $44 billion during BTC’s all-time high.
Notably, the once-biggest Bitcoin exchange had declared bankruptcy in February 2014. The exchange, which controlled over 7% of BTC transactions in its peak, took this drastic step because of undetected theft that had been going on since 2011. The incident resulted in the arrest of its CEO Mark Karpeles and was subsequently sent to prison for his negligence.
“Bilyuchenko, Verner, and their co-conspirators laundered the bulk of the bitcoins stolen from Mt. Gox principally through bitcoin addresses associated with accounts Bilyuchenko, Verner, and their co-conspirators controlled at two other online bitcoin exchanges , as well as a particular user account on Mt. Gox itself.”
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.
Trump says he's been indicted in classified documents investigation; U.S. DOJ yet to confirmFormer U.S. President Donald Trump says he's been indicted on charges of mishandling classified documents at his Florida estate, igniting a federal prosecution that is arguably the most perilous of multiple legal threats against the former president as he seeks to reclaim the White House.
Read more »
Bitcoin slides below $26,500 amid the ongoing regulatory crackdownCrypto prices traded down on Wednesday as the ongoing crackdown by the SEC pushed traders out of the market and into the safety of stablecoins.
Read more »
Bitcoin June 8 daily chart alert - Prices still in downtrend
Read more »
Bitcoin holds as market reacts to SEC dramaBitcoin remains steady as the drama unfolds in major exchanges. Long-term holders sell but realized losses stay minimal, displaying resilience in a volatile market.
Read more »
Bitcoin, Ethereum see surge in volume, but…Amidst regulatory turbulence, Bitcoin and Ethereum defy the odds, soaring to new volume heights, while traders embrace the bullish wave, fueling optimism for the future.
Read more »
Can Bitcoin be stopped? #shortsRobertBreedlove22 tells Michelle Makori that only this can potentially shut down Bitcoin.Find out more here - https://youtu.be/_urZ8Z1O_vMFull interview fe...
Read more »