A couple living in New York, USA have stolen $8 billion in bitcoins.
A couple living in New York, USA have stolen $8 billion in bitcoins. According to a Bloomberg report, the hackers tried for several weeks before attempting the theft.
America (US) A couple living in New York have bought bitcoin (Bitcoin) $8 billion was stolen. According to Bloomberg report, hackers stole (theft) Tried for several weeks before trying. They cryptocurrency (cryptocurrency) Saw users buying and selling bitcoins on the exchange. He has studied the commands that control the security system. He was keeping a very close watch on every transaction, so that he could find out the flaws.
Withdrawal limit increased
They were not directly behind bitcoins. Bitcoins serve as entries in databases maintained by computers around the world. They needed private keys. These are cryptographic passwords, with the help of which coins can be unlocked and moved. Once Keys was found, he did his job. On August 2, 2016, at 10.26 am, hackers increased the exchange’s daily withdrawal limit from 2,500 bitcoins to 1 million, in order to empty the entire vault. Then, using private keys, he began instructing Bitfinex to transfer bitcoins to an address he controlled.
Then over the next 3 hours and 51 minutes, hackers stole 119,754 coins, more than half of the holdings of the world’s largest cryptocurrency exchange.
How were the criminals caught?
When executives working at Bitfinex learned of what had happened, they hired a security team to search the server memory. The hack was done very cleverly and some users found it to be someone inside. However, the road was difficult for the researchers, as the hackers had erased their digital fingerprints.
The only information Bitfinex had was the addresses where the hackers sent the money. To get help from the people, the company put the addresses on the internet for all the people. For years, most of the funds were held in these digital wallets. By 2021, the value of stolen bitcoins exceeded $8 billion, making the theft the most expensive in history. The money was there. But it was difficult to find out who had taken it. Without the hackers’ private keys, the police had no way out.
But Mich. An Internal Revenue Service agent working from his basement got the proof. The name of the couple working in New York City surfaced. Ilya Lichtenstein and Heather Morgan turned out to be the culprits.