Bitfinex hackers move another $30million

[Jet Cash]

Coin Telegraph reports that the hackers who stole 120,000 BTC back in 2016 have just moved another $30million of Bitcoin into unknown wallets. This follows a number of other transactions executed earlier this year. Read the full report here -
https://cointelegraph.com/news/bitfinex-hackers-move-another-30m-in-stolen-bitcoin-from-2016

It would apper that they are managing to realise some of the profits from this hack. This is despite the public records of all Bitcoin transactions. Do you think that they will eventually be able to realise all of the stolen gains? There is a substantial reward for anyone who aids in the recovery of these funds, but nobody seems to be able to trace the perpetrators.

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[claire_lovely]

I think that they could transfer it quite easily without being traced. By using unknown wallets and mixers it would be very difficult to locate the funds, and even then it would be hard to tell who owned it, much would likely eventually be mixed with real transactions to.

They could also swap it for XMR and then back to BTC, making any detection virtually impossible.

[ropyu1978]

Still waiting the impact of stolen fund bitcoin and have ad news or keep positive news to make bitcoin stable on higher price or not, last night bitcoin grow up more than 6% and give space for almost altcoin going to higher price, if this bad news will make bitcoin going back down or lower price asbsolutely will make altcoin going down too, I hope this not give bad impact for bitcoin and altcoin after several week have going down and break out on first week in October to get chance see bitcoin in higher price at the end this year.

[dothebeats]

120,000 bitcoins is no joke, though at present it'll be hard for them to liquidate those and harvest some profits. I'm surprised that most on-chain analysis firms are still not onto this and are not finding the leads as they should be for such huge cases. Though of course there is a possibility that at some point, these coins are no longer in the hands of the hackers and has since been mixed in exchanges' hot wallets and some of the funds are already in the form of privacy coins or other altcoins. I would be keen to see some developments on this case, and see how would they nab the hackers from 2016.

[malevolent]

Two arrests have been made last year in connection with this hack?

https://www.zdnet.com/article/bitfinex-hackers-arrested-after-three-years/

Anyone know what came of it?

If they only managed to launder a small fraction so far, I'm not sure how much are they going to be able to wash without getting caught.

[20kevin20]

It would apper that they are managing to realise some of the profits from this hack. This is despite the public records of all Bitcoin transactions. Do you think that they will eventually be able to realise all of the stolen gains? There is a substantial reward for anyone who aids in the recovery of these funds, but nobody seems to be able to trace the perpetrators.

It's getting easier and easier to realise them with the development of P2P platforms, mixers, whirlpools and other ways we currently have to anonymize Bitcoins. Unless they expose themselves one way or another, I think they'll eventually get away with the stolen gains unfortunately.

Two arrests have been made last year in connection with this hack?

Anyone know what came of it?

The brothers may be part of a larger ring or they just weren't the right persons to suspect. Unless someone from Israel gets to verify if there's any public record of the two, I can't seem to find any information besides assumptions. This is what Blocksat says about their arrest:

Over a year ago, the media reported that the Israeli services arrested two brothers – Eli Gigi and Assaf Gigiwho were accused, incl. for the attack on Bifinex in 2016. They also had numerous phishing attacks or other activities in their “CV” that helped them steal millions of dollars in BTC over the last years. They mainly consisted in impersonating known exchanges.

Now we can become suspicious that the brothers were not behind the attack. Or they had accomplices who are still at large.

[Fundamentals Of]

Do you think that they will eventually be able to realise all of the stolen gains?

I think a little portion of the funds hacked was already recovered. But it was too little as compared to the total amount stolen. The hackers look brilliant in holding for a while and refrained from being to rush in moving their coins. Although it also gave the authorities some buying time, it seems they are far from making progress in trying to recover the funds.

We will hope the juicy reward provided for the bounty hunters who will help recover the funds will really help.

[(o)(o)ilikeboobs(o)(o)]

I do not understand very well about the return of money that the hacker stole. Can they recover the bitcoins they have stolen? The likelihood is very low, maybe the hackers are playing a certain game.
120,000 Bitcoins is a lot of money and can drag bitcoin down.

[UserU]

I do not understand very well about the return of money that the hacker stole. Can they recover the bitcoins they have stolen? The likelihood is very low, maybe the hackers are playing a certain game.
120,000 Bitcoins is a lot of money and can drag bitcoin down.

Unlike fiat money, Bitcoin transactions are much harder to trace if they're not conducted to KYC-ed platforms. Then there are mixers that obscure the tracks.

[mk4]

120,000 Bitcoins is a lot of money and can drag bitcoin down.

Sure, but this is assuming that they could(and would) actually dump everything in one go. Because if they were smart, that's definitely not the best way to dump that huge of an amount.

[sheenshane]

120,000 Bitcoins is a lot of money and can drag bitcoin down.

Sure, but this is assuming that they could(and would) actually dump everything in one go. Because if they were smart, that's definitely not the best way to dump that huge of an amount.

I tend to agree, they will not surely dump the whole thing in a single transaction. As of now, I haven't seen any sign of a price decrease in the market.

IMO, in appearance, this is how Bitcoins and fiat differ because fiat has serial number compare with Bitcoins that makes it really hard to track the stolen Bitcoins in the market in fac that we couldn't identify if the one that we hodl already came from the stolen Bitcoins after they will keep moving scammed Bitcoin into small parts.

Although fiat has a serial number it only serves for monitoring it couldn't help the authority to trace stolen money for it is still being generated by the central bank and can be transferred from one to another without knowing the serial numbers of money that you own.
Hackers or thief have their own ways as well to protect what they stole and IMO, it will be really hard to recover the $30 million for hackers will not be able to do it if they don't know what to do next and how can they remain anonymous to those who chase them, of course, the Chainalysis, a Blockchain Analysis Company that monitor stolen Bitcoin transaction.

[coupable]

According to reports, this is not the first move made this year 2020. Hackers already moved another amount last July.
What we are sure about is that the receiving addresses don't belong to any of the known exchanges. But there is still a possibility that those addresses belong to a mixer who send back the same amount to several other addresses owned by the hacker.
About the arrests occured in Israel, with the lack of further details, it seems that it lead to nothing as they fail to recover the stolen funds or to trace other people involved in the operation .

[Oilacris]

It would apper that they are managing to realise some of the profits from this hack. This is despite the public records of all Bitcoin transactions. Do you think that they will eventually be able to realise all of the stolen gains? There is a substantial reward for anyone who aids in the recovery of these funds, but nobody seems to be able to trace the perpetrators.

I would believe that its possible but only for those centralized alts but for Bitcoin? I dont see a chance for some recovery or tracing them up.

Just for the example on what happened in Kucoin when it comes to recovery or able to hold up those coins but we know that this isnt possible for BTC.

The thing we can only do is to see those coins moving and its been a while since that Bitfinex hack and now they are trying to harvest gains.
It sucks but theres nothing we can do.

[batang_bitcoin]

I do not understand very well about the return of money that the hacker stole. Can they recover the bitcoins they have stolen? The likelihood is very low, maybe the hackers are playing a certain game.
120,000 Bitcoins is a lot of money and can drag bitcoin down.

What do you mean by dragging bitcoin down? the entire market will be dragged down? if it will be dumped all at once, yes. But it doesn't mean that it won't recover quickly. We have seen how fast it dumps and recovers. Stolen bitcoins are unlikely to recover because their strat is to let it pass for years so that people won't notice the movement and transfer of those stolen funds. But little did they know, there are correspondents that are monitoring those funds from time to time and didn't stopped for years. So what we see with the reports are fund transfers but not actual tracing.

[AmoreJaz]

I do not understand very well about the return of money that the hacker stole. Can they recover the bitcoins they have stolen? The likelihood is very low, maybe the hackers are playing a certain game.
120,000 Bitcoins is a lot of money and can drag bitcoin down.

What do you mean by dragging bitcoin down? the entire market will be dragged down? if it will be dumped all at once, yes. But it doesn't mean that it won't recover quickly. We have seen how fast it dumps and recovers. Stolen bitcoins are unlikely to recover because their strat is to let it pass for years so that people won't notice the movement and transfer of those stolen funds. But little did they know, there are correspondents that are monitoring those funds from time to time and didn't stopped for years. So what we see with the reports are fund transfers but not actual tracing.

and dumping them at once will not be a smart move from their end. so what they are doing is they are slowly liquidating those stolen bitcoins. definitely, they will be employing mixers or converting it to other alts like xmr. people can see there's movement but i dont think these hackers will be dumb to let those txs be traced where it will end up with.
based from the article, these hackers already moved about 8600BTCs this year alone, and yet they haven't caught them. they already know the drill, so getting caught after all this time? dont think it will happen.

so seems that no one can claim the $400M rewards from bitfinex, for now -
https://news.bitcoin.com/bitfinex-400-million-rewards-get-back-120000-stolen-bitcoins/

120,000 bitcoins is no joke, though at present it'll be hard for them to liquidate those and harvest some profits. I'm surprised that most on-chain analysis firms are still not onto this and are not finding the leads as they should be for such huge cases. Though of course there is a possibility that at some point, these coins are no longer in the hands of the hackers and has since been mixed in exchanges' hot wallets and some of the funds are already in the form of privacy coins or other altcoins. I would be keen to see some developments on this case, and see how would they nab the hackers from 2016.

or maybe they have leads already but of course, not disclosing to public consumption. really interesting if they can ever bust those hackers.

[Rengga Jati]

It means that the hackers also do it carefully, splitting the BTC into several times movement to ignore the big possibilities to be discovered. And probably, they also seek the right moment, when the price is rising up at a certain time. And of course, they should make it as real and fluent as possible or they will be discovered and arrested.
But, can what they do give impact tot he price of BTC right now or in the future? I am not sure that they wnat to dump the price, but, who knows if they have that such high amount of BTC.

Two arrests have been made last year in connection with this hack?

We still can't confirm it yet. But, if it is from Bitfinex, they are probably in one relation. But, who knows that they are in the same gang of hackers. they must know the risks if they spend more BTC at one time or in a short time. So, they will manage to move the BTC very carefully. About two arrested, hopefully, they are, the one that has the key of the stolen BTC.

I remember about a hacker in my country that has been arrested after some years being hackers and discovered.
He lived so peacefully being a rich man, and it ends after the police arrest him.

it means that if hackers do some accidental or careless things about moving the BTC carelessly, the risks will be higher to be known hackers and arrested. 

[Darker45]

Two arrests have been made last year in connection with this hack?

We still can't confirm it yet. But, if it is from Bitfinex, they are probably in one relation. But, who knows that they are in the same gang of hackers. they must know the risks if they spend more BTC at one time or in a short time. So, they will manage to move the BTC very carefully. About two arrested, hopefully, they are, the one that has the key of the stolen BTC.

It has already been confirmed. This is old news actually. The arrests happened in June last year.

Accordingly, the two were brothers from Israel. Their names were Eli Gigi and Assaf Gigi. The two were notorious online criminals, having also been charged of "orchestrating various phishing schemes."^[1]

Eli Gigi, in particular, is the kind of man who can pull this off, having been trained under the Talpiot Program of the Israeli Defense Forces (IDF), a military program to train cyber-security experts.^[Ibid.]

I was therefore a little bit hopeful that there might be some significant developments in the recovery of the stolen funds but it seems the recent movement of the funds makes it clear that the companions of the two arrested are still in full control of everything.

[1] https://www.zdnet.com/article/bitfinex-hackers-arrested-after-three-years/
https://www.coindesk.com/two-israeli-brothers-arrested-for-phishing-fraud-bitfinex-hack
https://cointelegraph.com/news/bitfinex-hack-new-twist-two-arrested-in-israel-after-15m-moved

[(o)(o)ilikeboobs(o)(o)]

120,000 Bitcoins is a lot of money and can drag bitcoin down.

Sure, but this is assuming that they could(and would) actually dump everything in one go. Because if they were smart, that's definitely not the best way to dump that huge of an amount.

What if they have a conspiracy? Dumping them all together with a few big enough short trades can get them bigger than that. Next, he collects the crumbling and rich battlefield no matter how much the others have sold.
In 2017 there was a similar situation when someone pulled Ethereum down to $ 0.1.

[BrewMaster]

120,000 Bitcoins is a lot of money and can drag bitcoin down.

Sure, but this is assuming that they could(and would) actually dump everything in one go. Because if they were smart, that's definitely not the best way to dump that huge of an amount.

What if they have a conspiracy? Dumping them all together with a few big enough short trades can get them bigger than that. Next, he collects the crumbling and rich battlefield no matter how much the others have sold.
In 2017 there was a similar situation when someone pulled Ethereum down to $ 0.1.

first of all there is no similarity in the case of ethereum in 2017 and bitcoin of any times. secondly it mainly got dumped that much becaue there was not enough buyers buying ethereum to prevent that crash so a big sell off pulled it down. there was also another case which was the exchange bug where the price got dumped that low which wasn't even any sells taking place!!!

secondly as soon as a single satoshi of these coins reach a centralized exchange it will be frozen and won't even be possible to login to that account again let alone want to sell.

[JakobFugger]

The real news is to know that they still have access to the wallet. This is the most worrying. Trying to understand what strategies they could use is a curiosity I have. What would be the next steps? The main thing is to use it in a way that doesn't bring connections, so they can't buy anything directly. Would they probably use a mixer or an exchange?

I found this post here offering the reward.
https://www.bitfinex.com/posts/494
 I believe it could be a good opportunity to earn some money to plan their next steps and anticipate how to find out who they are or any leads.

[Crypto_lion]

Coin Telegraph reports that the hackers who stole 120,000 BTC back in 2016 have just moved another $30million of Bitcoin into unknown wallets. This follows a number of other transactions executed earlier this year. Read the full report here -
https://cointelegraph.com/news/bitfinex-hackers-move-another-30m-in-stolen-bitcoin-from-2016

It would apper that they are managing to realise some of the profits from this hack. This is despite the public records of all Bitcoin transactions. Do you think that they will eventually be able to realise all of the stolen gains? There is a substantial reward for anyone who aids in the recovery of these funds, but nobody seems to be able to trace the perpetrators.

You wonder if this will never be solved. After all it has been four years now and nobody has been able to trace the hackers yet. Probably they are never gonna get caught now.

[Sadlife]

Probably their using mixers to stay anonymous, even with a public ledger to track all BTC transactions. This is probably different from all the other hacks where exchanges and e-wallets could immediately take action, and freeze those accounts if its peer 2 peer BTC transactions. Especially if they could convert it to other private secured Cryptocurrency such Monero, Dash and Zcash then back to Bitcoin again which makes it nearly impossible to track.

[alexeev.tosha0109@yandex.]

It seems to me that Bitfinex will never get the stolen money back. The hackers haven't been found for 4 years. It's almost impossible.

[death69]

But I guest that the perpetrators wont have a ball to transfer that money into cash. It still confuses me that they have been holding those bitcoins for too long. Or maybe these coins have already been transferred to others. Laundering bitcoin is quite easy since there are many coin mixing on the internet. But the process is tougher with more than 120,000. No such coin mixing can have that much money to help those criminals.

Maybe they will try to split those coins as small as they can so that they can use it in the dark web or online bitcoin stores which do not need to require identity or KYC

[maydna]

Probably their using mixers to stay anonymous, even with a public ledger to track all BTC transactions. This is probably different from all the other hacks where exchanges and e-wallets could immediately take action, and freeze those accounts if its peer 2 peer BTC transactions. Especially if they could convert it to other private secured Cryptocurrency such Monero, Dash and Zcash then back to Bitcoin again which makes it nearly impossible to track.

Converting the bitcoin amount into other coins will be the easy way hackers can do to avoid the tracking. But I am sure that the hacker will have different ways to cash out that bitcoin. It's a large amount of bitcoin, and I am sure that they don't want to attract more attention from the public for withdrawing all of the bitcoin amounts. They can also sell the bitcoin on the black market or sell it just for a small amount. Many speculations about that, but we still don't know.

With the current situations at the market, it seems, the market doesn't affected with that news, and I hope that the bitcoin price can still increase and break $12k. With the chart line still go up, I think the price will be back to $11,500 soon or this week if there is nothing bad happens.

[hugeblack]

The scammer who steals that amount and waits so long to move a part of it will not be stupid to send it to central platforms or use a mixing service, but rather he will have enough money to set up his own mixing service or even create an exchange.

That money can be used for a lot of things which after a long time can be considered profits and it will be very difficult to keep track of those currencies.

We are talking about the extent of the platform's willingness to pay to gain access to these currencies, and even if it did, the chance to recover it seems slim and scammers who have enough money and time.
I think the equation is on the side of the hackers

[Karartma1]

The real news is to know that they still have access to the wallet. This is the most worrying. Trying to understand what strategies they could use is a curiosity I have. What would be the next steps? The main thing is to use it in a way that doesn't bring connections, so they can't buy anything directly. Would they probably use a mixer or an exchange?

Only a super shady exchange would ever accept stolen funds so I think that's not an option. They clearly have lots of tools to obfuscate their trails (wasabi, mixers, samourai, payjoins, coinjoins, blockchain hopping etc.) but they will have to be very smart on their moves.
One thing I am certain of: they can't cash out from exchanges especially after all the travel rule, FAFT recommendations and such.
On a scientific point of view this will be interesting to watch.

[piebeyb]

wallet address should be marked as a dangerous wallet address so that every transaction is logged so that they have a little trouble moving their funds or exchanging them anywhere, even though it sounds difficult because they always have the sense to disappear from there, until now I'm still asking if bitcoins can be hacked , except for just the careless people holding it, somehow I'm sure it's the bitfinex people who hacked it, but I don't want to accuse it either, but keep paying attention to the next news about this fund

[malevolent]

Mixing over a very long period of time and cashing out/laundering over similarly long periods of time is the only way they could maybe get away with it.

[Karartma1]

Mixing over a very long period of time and cashing out/laundering over similarly long periods of time is the only way they could maybe get away with it.

Or they could spend millions in gift cards 
Jokes aside, over the long run the more moves they make the higher the chances they will make even the smallest mistake that eventually will allow forensic experts to trace them back from the start. Don't you think?

[malevolent]

Or they could spend millions in gift cards 
Jokes aside, over the long run the more moves they make the higher the chances they will make even the smallest mistake that eventually will allow forensic experts to trace them back from the start. Don't you think?

Well, the higher the volume, the harder it would be to blend in. Both sudden and slow increases in volume could stand out, same with cashing out, and given the amount of money involved, investigations could be conducted on places where it's the easiest to exchange larger amounts of bitcoins for fiat money, add potential mistakes when laundering either bitcoins or fiat from bitcoins and there's some hope for Bitfinex to regain their money one day.

[Lucax.finance]

Even the large exchange is not safe to protect your money, these hackers are now increasingly intelligent to commit their thefts

[AGD]

I think that they could transfer it quite easily without being traced. By using unknown wallets and mixers it would be very difficult to locate the funds, and even then it would be hard to tell who owned it, much would likely eventually be mixed with real transactions to.

They could also swap it for XMR and then back to BTC, making any detection virtually impossible.

This is why most of the criminals get caught. They think everything they don't have a clue about is sooo easy.
'...very difficult...' = possible
Did you try to exchange a big number of Bitcoins yet?
How easy do you think would it be to exchange, let's say only 100 BTC of the loot into USD or XMR without revealing your identity? Now imagine you need to exchange 120000 BTC...
Mixing these BTC will cost a fortune and still LE will be able to trace them.
The guys can send it from one address to another and still not be able to spend a Satoshi.

[wxa7115]

120,000 bitcoins is no joke, though at present it'll be hard for them to liquidate those and harvest some profits. I'm surprised that most on-chain analysis firms are still not onto this and are not finding the leads as they should be for such huge cases. Though of course there is a possibility that at some point, these coins are no longer in the hands of the hackers and has since been mixed in exchanges' hot wallets and some of the funds are already in the form of privacy coins or other altcoins. I would be keen to see some developments on this case, and see how would they nab the hackers from 2016.

Even if we know that everything that happens on the blockchain is forever recorded at the same time this hack happened a long time ago and the hackers had several time to think about how they are going to cash out their profits.

This means that if the are moving their coins now they have a very well thought plan that they think it is going to be good enough to fool anyone that tries to discover their identities, besides with such a huge amount of coins they stole they do not really need to cash out every single one of them as long as they can cash out some their lives are set for life.

[lebregone]

There are many ways in order to cashout their loot but I am hoping that the team of bitfinex have made their move already to at least trace whatever they can trace to the hackers of their exchange so those hackers can be stop in the future as I am pretty sure that they will continue to hack.

Reputation of big exchanges are at risk in this scenario if the hacking will continue and they cannot do a thing in order to stop or arrest the hackers behind the attack of their platforms.

[Yatsan]

120,000 Bitcoin is exclusively a large amount already to be imagined which is explicitly showcases how brilliant those hackers really are to stole such a big amount of Bitcoin. Now with Bitfinex experiencing a large amount of hack which is $30 million, it seems like even big and reputable exchanges just like what happened recently to Kucoin shows that their security have been manageably being entered by those intruders stealing a big amount from those exchanges. I just that may the Bitfinex manage to catch those hackers or may at least get back those stolen Bitcoins from them.

This means that if the are moving their coins now they have a very well thought plan that they think it is going to be good enough to fool anyone that tries to discover their identities, besides with such a huge amount of coins they stole they do not really need to cash out every single one of them as long as they can cash out some their lives are set for life.

Probably that is the case. Professional hackers have worked out of this case and they may at least well established a plan on how they can get out of this mess and make themselves be able not to be caught by the authorities because of the crime that they have done.

[Harlot]

The news regarding the 2 Israeli brothers who are connected to the Bitfinex hacked didn't really had any follow after their arrest so I suspect the crypto news media have distributed the wrong information again, because if this was true we won't hear the end of it and expect a lot of follow up after their arrest. Right now with 400 Million dollars in reward for them to recover the stolen Bitcoin I would suspect at least 1 of them to turn their back on each other or at least their family just to get that money.

[Oasisman]

The scammer who steals that amount and waits so long to move a part of it will not be stupid to send it to central platforms or use a mixing service, but rather he will have enough money to set up his own mixing service or even create an exchange.

That money can be used for a lot of things which after a long time can be considered profits and it will be very difficult to keep track of those currencies.

We are talking about the extent of the platform's willingness to pay to gain access to these currencies, and even if it did, the chance to recover it seems slim and scammers who have enough money and time.
I think the equation is on the side of the hackers

This pretty much explains everything as to why these hackers will remain unknown and very hard to be caught. Considering the amount of money in their possession and its indeed a very one sided story for the scammers.
The longer they're holding these funds the higher the possible profit from their capital of the scammed amount they get, and I guess it became even slimmer the chances of getting caught.

[(o)(o)ilikeboobs(o)(o)]

120,000 Bitcoins is a lot of money and can drag bitcoin down.

Sure, but this is assuming that they could(and would) actually dump everything in one go. Because if they were smart, that's definitely not the best way to dump that huge of an amount.

What if they have a conspiracy? Dumping them all together with a few big enough short trades can get them bigger than that. Next, he collects the crumbling and rich battlefield no matter how much the others have sold.
In 2017 there was a similar situation when someone pulled Ethereum down to $ 0.1.

first of all there is no similarity in the case of ethereum in 2017 and bitcoin of any times. secondly it mainly got dumped that much becaue there was not enough buyers buying ethereum to prevent that crash so a big sell off pulled it down. there was also another case which was the exchange bug where the price got dumped that low which wasn't even any sells taking place!!!

secondly as soon as a single satoshi of these coins reach a centralized exchange it will be frozen and won't even be possible to login to that account again let alone want to sell.

Sure, it won't happen again, but in one case Bitcoin could pull it down and the profits from dumping the same short order would be possible. I am just giving an illustration of the conspiracy I am talking about.
Now that satoshi's wallet holds the most bitcoins in the market, I hope he doesn't open it up and sell his bitcoins.

[jslestevez]

Hello, I have received 547 satoshis at my usual payment address, it is from a very strange origin ... does it have to do with the movement of stolen BTC?

https://www.blockchain.com/es/btc/tx/c8ac833886c05d26e069ff7fb3176df6bb741bec8e4a69a4c830da5dcae61ebc

[jslestevez]

Hello, I have received 547 satoshis at my usual payment address, it is from a very strange origin ... does it have to do with the movement of stolen BTC?

https://www.blockchain.com/es/btc/tx/c8ac833886c05d26e069ff7fb3176df6bb741bec8e4a69a4c830da5dcae61ebc

I have investigated and in fact it seems like a money laundering attack ...


"lets use full power of anonymity see memo dot sv topic hmwyda"


https://www.reddit.com/r/Bitcoin/comments/igc3yq/psa_possible_deanonymizationdustingcoin/

https://coin.fyi/news/bitcoin/psa-possible-deanonymization-dusting-coin-corruption-attack-under-way-igc3yq

[AakZaki]

4 years passed and then the hacker wallet started to reactivate. They use a coin mixing service to avoid the tracing being done, but in the end when they want to sell it will of course still trace where the 120,000 BTC will end up. Hackers try to reap the benefits after 4 years have passed. Btfinex doesn't seem to give up on exposing the person behind the hack.

[Alucard1]

120,000 BTC is such a huge amount of money and it would take so many years before you earned that kind of the amount but that would be easy for every hacker to gain that money, they are so intelligent and so many knowledge about technology, that is why they can hack even large company. For sure that money is already distributed for every wallet of the hackers involved in it. I wonder why authorities can't still catch those criminals, well, in fact, most of the articles that I have read, they had caught the criminals who execute such activities.

[malevolent]

120,000 Bitcoin is exclusively a large amount already to be imagined which is explicitly showcases how brilliant those hackers really are to stole such a big amount of Bitcoin. Now with Bitfinex experiencing a large amount of hack which is $30 million,

120k BTC was more than $30M even back in 2016 when the hack occurred.

The news regarding the 2 Israeli brothers who are connected to the Bitfinex hacked didn't really had any follow after their arrest so I suspect the crypto news media have distributed the wrong information again, because if this was true we won't hear the end of it and expect a lot of follow up after their arrest. Right now with 400 Million dollars in reward for them to recover the stolen Bitcoin I would suspect at least 1 of them to turn their back on each other or at least their family just to get that money.

zdnet and yahoo which aren't part of the 'crypto news media' have reported the news too

Perhaps what happened is someone erroneously tied a June 2019 movement of some of the stolen bitcoins to the brothers, maybe both the thieves and these brothers used the same DNM, or did some business together, or something like that.

[Gibreil]

120,000 BTC is such a huge amount of money and it would take so many years before you earned that kind of the amount but that would be easy for every hacker to gain that money, they are so intelligent and so many knowledge about technology, that is why they can hack even large company. For sure that money is already distributed for every wallet of the hackers involved in it. I wonder why authorities can't still catch those criminals, well, in fact, most of the articles that I have read, they had caught the criminals who execute such activities.

Hacking is the most easiest way to earn money in online but the dirtiest job for me. Imagine, this 120K btc hacked in bitfinex had users also who trade and hope to become a millionaire soon. But the hope was cut when there was a hacking event that may took their money from the exchange. They are so intelligent to the fact the even the hardest system, they can intercept it. But for me, its useless when their life was being in harm. I hope someday this hacking event will be gone so that many users will feel safe when their funds are on exchange.

[erikoy]

This is a sad scenario for cryptocurrency. How could we make an attest the integrity of the system if other users were being vulnerable as a target for hacking, phishing and other fraud activities? This is not really a goof sign that we are heading towards cryptocurrency adaption instead cryptocurrency will going to end. So, what we can expect now wity cryptocurrency with news poppingnlike this? nothing, we will goin to move in one day without cryptocurrency already and that I think we willl all be sad if it happens.

[Shasha80]

It's true that 120,000 BTC is a lot of money, if I'm lucky to have that kind of money, I probably will not use it all my life.
Because my income alone for a year does not reach 1 BTC, So it's only natural that Bitfinex continues to pursue these hackers.
But Bitfinex hackers cleverly cover their tracks, therefore it is very difficult to catch them.

[bitcoin31]

Those hackers who are still holding those bitcoin once they sell it maybe it decreased the value because it's worth millions dollars and that is very big amount of money. I hope that hacker will be caught and go to jail because stealing bitcoin or anything is not good hoping wfor them to karma. Hoping no more exchanger/trading sites will be hack because it is involve money of the traders too.

[Hueristic]

Hello, I have received 547 satoshis at my usual payment address, it is from a very strange origin ... does it have to do with the movement of stolen BTC?

https://www.blockchain.com/es/btc/tx/c8ac833886c05d26e069ff7fb3176df6bb741bec8e4a69a4c830da5dcae61ebc

Here this will explain that.

https://bitcointalk.org/index.php?topic=5175238.msg52152021#msg52152021




If those hackers are smart they will be funding this.

Monero Atomic Swaps implementation funding

https://ccs.getmonero.org/proposals/h4sh3d-atomic-swap-implementation.html

[jslestevez]

Hello, I have received 547 satoshis at my usual payment address, it is from a very strange origin ... does it have to do with the movement of stolen BTC?

https://www.blockchain.com/es/btc/tx/c8ac833886c05d26e069ff7fb3176df6bb741bec8e4a69a4c830da5dcae61ebc

Here this will explain that.

https://bitcointalk.org/index.php?topic=5175238.msg52152021#msg52152021




If those hackers are smart they will be funding this.

Monero Atomic Swaps implementation funding

https://ccs.getmonero.org/proposals/h4sh3d-atomic-swap-implementation.html

Thanks for answering

I freeze that UTXO with 547 satoshis in electrum and moved the rest of my funds to a new wallet..

[wxa7115]

4 years passed and then the hacker wallet started to reactivate. They use a coin mixing service to avoid the tracing being done, but in the end when they want to sell it will of course still trace where the 120,000 BTC will end up. Hackers try to reap the benefits after 4 years have passed. Btfinex doesn't seem to give up on exposing the person behind the hack.

It is not going to be as easy the hackers could just buy an anonymity coin like Monero and then buy bitcoin with it and if they do this enough times they could make their track a lot harder to follow and when we take into account they are moving their coins now after so much time has passed then most likely they think they have a plan that will not fail to get away with their crimes.

I really hope they catch them and that money is recovered but I am not positive about the chances of that happening being very high.

[Emitdama]

Most of these hackers are playing smart these days by making use of several means that’s going to help them realize their stolen bitcoins without being traced, and one of the ways they have been doing this is by making use of coin mixers, after they have done this there are no way trace them. I wish there would be a way they can track down these people and punish them for the crimes they are committing.

With that said, I think it’s high time that exchanges should put more focus into tightening their security and making constant updates that are going to help secure their platforms so that these hackers will not be able to break through. Seriously I am tired of seeing news of exchanges being hacked. They really need to up their game, and stop being too easy to these thieves and hackers, and risking their customers' funds at the end of it.

[Hueristic]

Most of these hackers are playing smart these days by making use of several means that’s going to help them realize their stolen bitcoins without being traced, and one of the ways they have been doing this is by making use of coin mixers, after they have done this there are no way trace them. I wish there would be a way they can track down these people and punish them for the crimes they are committing.

With that said, I think it’s high time that exchanges should put more focus into tightening their security and making constant updates that are going to help secure their platforms so that these hackers will not be able to break through. Seriously I am tired of seeing news of exchanges being hacked. They really need to up their game, and stop being too easy to these thieves and hackers, and risking their customers' funds at the end of it.

Hahaha, anyone that believes the bolded has a nice cold cell waiting for them.

[aesma]

What's annoying is that this hack, and others that happened years ago, should have been a lesson to all serious crypto websites/exchanges, but still, some of them still have poor security and get hacked these days.

[JahriMeayer]

Its not easy to track those Perpetrators even anyone if they stole bitcoin from exchanges.there is no clue, that can help to make find them out. Almost every exchange is hacked for atleast one time minimum, but still no progress even still Stuck with their old security management.i don't see any possibilities to catch Perpetrators but atleast exchange should takes step to recover fund that is stolen by hackers.