Bitcoin Forum

Today I receive my daily newsletters and among them, I notice an article about a theft of $35m in cryptocurrency stolen from a company (https://cyprus-mail.com/2021/09/02/35m-in-cryptocurrency-stolen-from-company/) in Cyprus. Their Director reports the theft in Limassol but the theft was made to another company abroad.
He claimed that he gets an e-mail that he thought it was from a partner/ colleague of his and from this e-mail, hackers get access to the system and data of the company abroad, to which his Cyprus-based company provides technical services. Sounds strange or it's my thinking only? :-\

If it's not the proper section for this thread, please mods move it. Thank you!

yes, there is no explanation as to where they kept those cryptocurrencies, and it appears in some ordinary wallet on the computer of some employee. Hold $35 mil. on the computer where the secretary plays online games sounds unreal, or utterly frivolous.
although I would always suspect someone from the company who has access to computers.

We need some cryptocurrency insurance providers to pop up and give us some protection.

It is indeed strange, especially since various firms hire them to manage their cryptocurrencies!
^{- I do know that type of hack isn't impossible and this might've been a targeted hack because of the nature of their company, but I'm leaning more towards this hack being an inside job.}

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BTW, this "link (https://knews.kathimerini.com.cy/en/news/limassol-crypto-provider-says-imposter-stole-35-million)" might be slightly better :)

Something suspicious there. The amount of $35M isn't a small amount. If that company continually hasn't been dealing with Bitcoin like an exchange then the fund is supposed to store in non-custodial wallets. Who knows if one of the directors steals the fund and making a false excuse. This is cryptocurrency everything would happen. I don't believe a company that has been holding a big amount of cryptocurrency will store funds on the web or in an unsecured wallet. Police investigation doesn't help to identify hackers always. So, I believe it's a pre-planned hack.

Then we will see more cryptocurrency hacking drama.

I don't know if they hold this amount in a hardware wallet or some software but the strange thing is how do they get access to the data etc of another company? Technical advisories have access to their client's databases? They manage other's assets? Almost everything sounds at least strange...

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Exactly! In addition, this company, whose manager gets this "e-mail", isn't a financial management company but a technical one. How on Earth do you have assets of $35 mil and can be accessed by your... plumber?!


It will be great, even if we could see dramas on the way. The thing is how we (or someone) can establish and maintain something like this. :-\