Topic: Bitfinex hacks BTC are on the moved (Read 668 times)

This was also in my mind, how they can wait for that long period of time just wanted that they aren't noticing with someone but the fact, investigator's eyes are now looking at this connected addresses.

There's no any way for them to convert into fiat their hacked Bitcoin. I don't know if they keep sending or moving Bitcoin into different addresses that will help them to mislead those who investigate them. Poor scammers had millions of dollars in Bitcoin but it worth nothing because they can't convert it to cash.

To refreshed those who are not aware of the hacks backed in 2016, The Bitfinex Bitcoin Hack: What We Know (And Don’t Know).

According to whale alert:


https://twitter.com/whale_alert

The move coincides when the price of bitcoin is picking up, obviously, these criminals wanted to enjoy their loot and could be cashing it out anytime soon.

Check the wording. They're offering 5% to anyone makes an intro to the hacker or 25 to the hacker themselves. There's no mention of 'hunters' or ultimately dealing with anyone other than the thief at all. They haven't put up a wanted poster. They're pragmatic enough to realise no outside party is going to get anywhere for now at least.

Now, the game continues, that bounty is really f**ing good for hunters to pursue this hackers, bring out your popcorn guys, we will see how this is going to end.

Does it mean that the thief moved the whole coins into only one wallet? Is it? It is so crucial and also suspicious, isn't it? If they are the real thief, they should not do that thing because everybody can then check the transactions. They can now where the transaction is ended. That is why they can be trapped, chased, or even arrested because of that. Do they really act that kind of harmful? Well, it may be strange. but if the transaction is really from the thieves although it was from several years ago, it should be fixed and found for a better situation.

Bitfinex is offering a reward to any persons that connect us with hackers responsible for the unauthorized transfer of almost 120,000 bitcoins from the exchange in August 2016. As part of the same initiative, Bitfinex is also offering a reward to the hackers themselves for the return of the stolen property. This incident is a dark chapter in our exchange's history, and we are pleased to offer this reward as further evidence of our determination to obtain the lost property.

Early in the morning on August 2, 2016, hackers breached the security systems of our exchange. As a result, 2072 unauthorised transactions were broadcast on the Bitcoin network, involving 119,755 bitcoins in aggregate. We have learned valuable lessons from this painful episode, addressing the security issues and vulnerabilities associated with the theft.

Today's announcement of a reward is our latest effort to recover these stolen funds. Those who put Bitfinex in contact with the hacker will receive 5% of the total property recovered (or equivalent funds or assets at current market values), and the hackers will receive 25% of the total property recovered (or equivalent funds or assets at current market values). Any payments made to those connecting Bitfinex with the hackers and the hackers themselves will be classified as costs of recovery of the stolen property.

The aggregate rewards available under this programme could be worth up to approximately US$400 million at the current BTC price if all bitcoins are fully recovered. The bitcoins stolen minus recoveries in 2019 are worth $1.344 billion today, with 30 per cent of that amount equal to $403,288,427.

In order to confirm the identity of the hackers, we will request that 1 Satoshi is sent from the wallet address responsible for the hack to a wallet address specified by Bitfinex. We will work to ensure this can be done safely, thereby protecting the identities of all parties, and Bitfinex reserves the right to impose conditions on any transfers in order to verify claims and ensure a secure process.

As the recent hacking incidents at Twitter and Ledger demonstrate, this type of crime continues to be a threat for all businesses in the digital asset space and the wider technology sphere. No-one in our community can afford to be complacent about the ingenuity of criminal gangs to perpetuate new types of fraud.

Bitfinex has made security the overriding, number one priority of the exchange. As an exchange, we know we owe our success to a customer base that has loyally supported us through good and bad times. In the aftermath of the 2016 security breach, the exchange provided BFX tokens to all affected users. Each token represented $1 of losses. Those BFX tokens started trading on Bitfinex at less than $0.20, and gradually increased in value to almost $1. Monthly redemptions began on September 1, 2016, and the last BFX token was redeemed at the beginning of April 2017. More than 52 million BFX tokens were converted to shares of iFinex Inc. at 1:1 tokens to shares.

We have continued to work with law enforcement agents in investigating the 2016 security breach. In February 2019, U.S. authorities recovered 27.66270285 bitcoins stolen in the 2016 hack, which were converted to U.S. dollars and paid to RRT (Recovery Right Token) Holders.

Those with information relating to the 2016 hack at Bitfinex can contact us at: @bitfinex2016 via keybase.

Does the exchange really want to find these bitcoins and thereby deflect all suspicions from itself. Or they want to find a legal way to get those bitcoins back on the market.

Would have been more enticing for the hackers if Bitfinex agreed to drop all pending investigations etc.

https://www.bitfinex.com/posts/494

Bitfinex have just posted an exceedingly large reward to get these coins recovered, 25% of the total if the hacker themselves returns it.

That might set up a rather unfortunate precedent in future. If I were the thief I wonder what course of action I'd take.

You mean they're tracing the bitcoins? But what I was made to believe is that bitcoins or any cryptocurrency or blochkchain transactions cannot be traced. I'm a newbie though. And I seem to be learning on daily basis most especially with this forum.

Wondering if exchangers would able to spot it out and make holds of those once it do reach out the platform.Tracing it completely or do follow would really be a pain in the ass.

You mean they're tracing the bitcoins? But what I was made to believe is that bitcoins or any cryptocurrency or blochkchain transactions cannot be traced. I'm a newbie though. And I seem to be learning on daily basis most especially with this forum.