Crypto haven: Why the US govt has a $5 billion stash in bitcoin
1 year, 5 months ago

Crypto haven: Why the US govt has a $5 billion stash in bitcoin

Live Mint  

The U.S. government is one of the world’s biggest holders of bitcoin, but unlike other crypto whales, it doesn’t care if the digital currency goes up or down in value. Three recent seizures alone put more than 200,000 bitcoin in the government’s coffers, according to an analysis of public filings by crypto firm 21.co. The U.S. government didn’t seize any crypto in last year’s high-profile collapse of exchange FTX, but it did take over hundreds of millions of dollars in assets, made up mostly of cash and shares of brokerage Robinhood Markets. Cumberland, high-frequency trading firm DRW’s crypto unit, won 27,000 bitcoin in an auction the same year.

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History of this topic

North Korea behind $1.5 billion crypto theft, FBI says
Top News
1 month ago

North Korea behind $1.5 billion crypto theft, FBI says

Raw Story  

The U.S. Federal Bureau of Investigation on Wednesday accused North Korea of being behind the theft of $1.5 billion worth of digital assets last week, the largest crypto heist in history. was responsible for the theft of approximately $1.5 billion USD in virtual assets from cryptocurrency exchange, Bybit," the FBI said in a public service announcement. Lazarus Group gained notoriety …

Largest crypto heist in history: Who ‘stole’ $1.5 bn worth of digital assets? FBI names North Korea
Trending News
1 month ago

Largest crypto heist in history: Who ‘stole’ $1.5 bn worth of digital assets? FBI names North Korea

Firstpost  

The US Federal Bureau of Investigation has accused North Korea of orchestrating the theft of $1.5 billion in digital assets last week, marking the largest cryptocurrency heist ever recorded. File image/ Reuters The US Federal Bureau of Investigation on Wednesday accused North Korea of being behind the theft of $1.5 billion worth of digital assets last week, the largest crypto …

North Korea behind $1.5 billion crypto theft, FBI says
1 month ago

North Korea behind $1.5 billion crypto theft, FBI says

The Hindu  

The U.S. Federal Bureau of Investigation on Wednesday accused North Korea of being behind the theft of $1.5 billion worth of digital assets last week, the largest crypto heist in history. “ was responsible for the theft of approximately $1.5 billion in virtual assets from cryptocurrency exchange, Bybit,” the FBI said in a public service announcement. Lazarus Group gained notoriety …

North Korea behind $1.5 billion crypto theft: FBI
1 month ago

North Korea behind $1.5 billion crypto theft: FBI

Deccan Chronicle  

Washington: The US Federal Bureau of Investigation on Wednesday accused North Korea of being behind the theft of $1.5 billion worth of digital assets last week, the largest crypto heist in history. " was responsible for the theft of approximately $1.5 billion USD in virtual assets from cryptocurrency exchange, Bybit," the FBI said in a public service announcement. It said …

'Bitcoin’s biggest heist': How did Ilya Lichtenstein pull off the $10 billion cyber theft?
4 months, 2 weeks ago

'Bitcoin’s biggest heist': How did Ilya Lichtenstein pull off the $10 billion cyber theft?

Firstpost  

Ilya Lichtenstein and his wife, Heather Morgan, executed one of the ‘largest Bitcoin thefts’ in history, draining 120,000 bitcoins from Bitfinex in 2016. Lichtenstein’s wife, Heather Morgan, also known by her rap alias “Razzlekhan,” initially unaware of the hack, later became a crucial accomplice. Prosecutors noted, “Over half a decade, the defendant engaged in what IRS agents described as the …

69,000 Bitcoins Are Headed for the US Treasury—While the Agent Who Seized Them Is in Jail
55 years, 2 months ago

69,000 Bitcoins Are Headed for the US Treasury—While the Agent Who Seized Them Is in Jail

Wired  

In November of 2020, a person identified by the US Department of Justice only as “Individual X” sat down with an IRS agent named Tigran Gambaryan and prosecutors at the US Attorney’s office in San Francisco. Over the four years that it has taken the US government to establish legal ownership of that massive sum of bitcoins—identified by the IRS …

FTX reports $415 million in hacked crypto, Bankman-Fried says FTX U.S. is solvent
2 years, 2 months ago

FTX reports $415 million in hacked crypto, Bankman-Fried says FTX U.S. is solvent

The Hindu  

Bankrupt crypto exchange FTX said in a report to creditors on January 17 that about $415 million in cryptocurrency had been stolen in hacks. Mr. Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research, pushed back against FTX's calculations late Tuesday, saying that the company's …

Op-Ed: Crypto is under fire, but is this really the end for its Wild West?
2 years, 2 months ago

Op-Ed: Crypto is under fire, but is this really the end for its Wild West?

LA Times  

Crypto is in trouble. Like another fast-burning set of internet businesses that rose before — online gambling and betting platforms — crypto will likely keep spreading, including along the dark edges of the economy. Take crypto golden boy Sam Bankman-Fried, who is now being prosecuted, accused of building a house of cards at FTX reminiscent of Bernie Madoff’s multibillion-dollar scam …

Seized $3.5 billion in FTX crypto assets, Bahamas regulator says
2 years, 2 months ago

Seized $3.5 billion in FTX crypto assets, Bahamas regulator says

Live Mint  

Bahamas securities regulators said they seized digital assets valued at $3.5 billion from FTX’s local operation in mid-November as the cryptocurrency exchange spiraled toward collapse, a figure that FTX’s U.S. managers cast doubt on Friday. Christina Rolle, executive director of the Securities Commission of the Bahamas, said in an affidavit made public Thursday that the commission sought control of the …

Crypto Recap 2022: feats and clashes that defined the year
2 years, 3 months ago

Crypto Recap 2022: feats and clashes that defined the year

The Hindu  

As the year began, Bitcoin was already crashing but major investors - such as El Salvador’s President Nayib Bukele - were still positive that the largest cryptocurrency by market capitalisation would hit a price of $100,000 before 2023. 2022 predictions on #Bitcoin: •Will reach $100k •2 more countries will adopt it as legal tender •Will become a major electoral issue …

After FTX collapse, Sam Bankman-Fried arrested: What went wrong with the crypto giant?
2 years, 3 months ago

After FTX collapse, Sam Bankman-Fried arrested: What went wrong with the crypto giant?

Firstpost  

FTX was founded in 2019 by ex-Wall Street trader Sam Bankman-Fried and former Google employee Gary Want. Let’s take a closer look: FTX’s incredible rise The company was founded by Bankman-Fried, an ex-Wall Street trader and former Google employee Gary Want in 2019. Bankman-Fried issued a “sincere” apology, adding FTX would do “everything we can to raise liquidity.” A day …

$740M in crypto assets recovered in FTX bankruptcy so far
2 years, 4 months ago

$740M in crypto assets recovered in FTX bankruptcy so far

Associated Press  

NEW YORK — The company tasked with locking down the assets of the failed cryptocurrency exchange FTX says it has managed to recover and secure $740 million in assets so far, a fraction of the potentially billions of dollars likely missing from the company’s coffers. FTX failed because its founder and former CEO Sam Bankman-Fried and his lieutenants used customer …

We’ve only scratched the surface of how bad the crypto crime wave has gotten
2 years, 9 months ago

We’ve only scratched the surface of how bad the crypto crime wave has gotten

LA Times  

These are tough days for cryptocurrency investors. Crypto technology was built out of a “libertarian ethos” in which “there’s no nanny state that’s going to take care of you,” said Jeremy Goldman, an intellectual property attorney who specializes in legal issues involving crypto assets. “These are the consequences when there’s a mistake … there’s no one to unwind it, you …

Who gets the $3.6BN in Bitcoin US seized in Bitfinex hack?
3 years, 1 month ago

Who gets the $3.6BN in Bitcoin US seized in Bitfinex hack?

Al Jazeera  

After the attack in August 2016, when a hacker made away with more than 119,000 Bitcoin, Bitfinex allocated losses of more than 30 percent to all customer accounts. Bitfinex considers that it’s made investors whole, and said in a statement that it will “follow appropriate legal processes to establish our rights to a return of the stolen Bitcoin.” If Bitfinex …

Justice Dept. announces $3.6B crypto seizure, 2 arrests
3 years, 1 month ago

Justice Dept. announces $3.6B crypto seizure, 2 arrests

Associated Press  

WASHINGTON — The Justice Department announced Tuesday its largest-ever financial seizure — more than $3.6 billion — and the arrests of a New York couple accused of conspiring to launder billions of dollars in cryptocurrency stolen from the 2016 hack of a virtual currency exchange. We can and we will follow the money, no matter what form it takes,” Deputy …

Justice Dept. announces $3.6B crypto seizure, 2 arrests
3 years, 1 month ago

Justice Dept. announces $3.6B crypto seizure, 2 arrests

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Justice Department announced Tuesday …

$60 Million Worth of Bitcoins Seized from Fraudster Who Refuses to Give Up the Password
4 years, 1 month ago

$60 Million Worth of Bitcoins Seized from Fraudster Who Refuses to Give Up the Password

News 18  

German prosecutors have confiscated more than EUR 50 million worth of bitcoin from a fraudster. The man was sentenced to jail and has since served his term, maintaining his silence throughout while police made repeated failed efforts to crack the code to access more than 1,700 bitcoin, said a prosecutor in the Bavarian town of Kempten. “Perhaps he doesn’t know.” …

Feds Seize $1 Billion in Stolen Silk Road Bitcoins
55 years, 2 months ago

Feds Seize $1 Billion in Stolen Silk Road Bitcoins

Wired  

More than seven years have passed since Ross Ulbricht was arrested in the science fiction section of a San Francisco library and charged with running the sprawling, dark web drug bazaar known as the Silk Road. Today the Justice Department finally revealed where a billion-dollar tranche of the Silk Road's treasure ended up: stolen by a mysterious hacker, and now …

MtGox bitcoin exchange chief executive Mark Karpeles arrested in Japan
9 years, 7 months ago

MtGox bitcoin exchange chief executive Mark Karpeles arrested in Japan

ABC  

Japanese police have arrested the chief executive of the failed company MtGox, which was once the world's biggest exchange of the virtual currency bitcoin. Mark Karpeles is being held in connection with the loss of bitcoins worth nearly $US400 million, which prompted the company's collapse in February last year. Police said investigators suspect Karpeles knew details about the missing bitcoins …

Former US agents charged for bitcoin theft during Silk Road probe
9 years, 11 months ago

Former US agents charged for bitcoin theft during Silk Road probe

Firstpost  

The U.S. Justice Department announced charges on Monday against two former federal agents accused of stealing the digital currency bitcoin during the investigation of the underground drug marketplace Silk Road. The U.S. Justice Department announced charges on Monday against two former federal agents accused of stealing the digital currency bitcoin during the investigation of the underground drug marketplace Silk Road. …

Mt. Gox says it found 200,000 bitcoins in 'forgotten' wallet
11 years ago

Mt. Gox says it found 200,000 bitcoins in 'forgotten' wallet

Firstpost  

Gox said on Friday it found 200,000 “forgotten” bitcoins on March 7, a week after the Tokyo-based digital currency exchange filed for bankruptcy protection, saying it lost nearly all the 850,000 bitcoins it held, worth some $500 million at today’s prices. Online sleuths had noticed around 200,000 bitcoins moving through the crypto-currency exchange after the bankruptcy filing. “On March 7, …

US wonders what to do with Bitcoin hoard worth millions after Silk Road bust
11 years, 2 months ago

US wonders what to do with Bitcoin hoard worth millions after Silk Road bust

Firstpost  

U.S. prosecutors in Manhattan are sitting on a multimillion-dollar bitcoin gold mine. Federal authorities hauled in 29,655 units of the digital currency - worth $27 million at current exchange rates - through an official forfeiture by Bitcoin this week. The bitcoins had belonged to Silk Road, an anonymous online black market that authorities say was a conduit for purchases of …

$28 mn bitcoins forfeiture by contraband selling website is US-record
11 years, 2 months ago

$28 mn bitcoins forfeiture by contraband selling website is US-record

Firstpost  

In a news release, US Attorney Preet Bharara said it was the largest forfeiture of bitcoins ever by the government. He called Silk Road “a global cyber business designed to broker criminal transactions.” New York: A record $28 million of bitcoins has been formally transferred to the US government several months after it was seized from the server of the …

Bitcoin surges 400%, crosses $1000 for the first time
11 years, 4 months ago

Bitcoin surges 400%, crosses $1000 for the first time

Firstpost  

The price of the digital currency bitcoin soared above $1,000 for the first time on Wednesday, extending a 400 percent surge in less than a month that some see as a growing bubble in an asset that is still a mystery to many. At the beginning of the month, bitcoin, a prominent digital currency that is not backed by a …

Feds have wrong man in Silk Road case says lawyer
11 years, 4 months ago

Feds have wrong man in Silk Road case says lawyer

Firstpost  

A San Francisco man isn’t the “Dread Pirate Roberts” who prosecutors say was the mastermind behind a secret website that brokered… A San Francisco man isn’t the “Dread Pirate Roberts” who prosecutors say was the mastermind behind a secret website that brokered more than $1 billion in transactions for illegal drugs and services, a defense attorney said Wednesday. Ross William …

US seizes 'largest ever' Bitcoin haul from man linked to Silk Road website
11 years, 5 months ago

US seizes 'largest ever' Bitcoin haul from man linked to Silk Road website

ABC  

United States authorities have seized an estimated $29 million in digital currency from the alleged owner of an online drugs marketplace. Federal prosecutors said 144,336 bitcoins, a digital currency widely used on the defunct site, were discovered on computer hardware belonging to Ross William Ulbricht. The online drugs marketplace Silk Road was shut down by authorities three weeks ago. Silk …

FBI's Bitcoin haul from Silk Road puts it in the line of troll fire – Firstpost
11 years, 5 months ago

FBI's Bitcoin haul from Silk Road puts it in the line of troll fire – Firstpost

Firstpost  

Online black market Silk Road was shut down by the FBI and the alleged owner Ross William Ulbricht arrested. Along with the shut-down, about 26,000 Bitcoins Online black market Silk Road was shut down by the FBI and the alleged owner Ross William Ulbricht arrested. According to an FBI Spokesperson, the Bureau seized about 26,000 Bitcoins from Silk Road accounts. …

Underground online drug market Silk Road shut by FBI, alleged owner arrested
11 years, 5 months ago

Underground online drug market Silk Road shut by FBI, alleged owner arrested

Firstpost  

US law enforcement authorities have shut down Silk Road, the underground marketplace where one could purchase drugs with Bitcoins… US law enforcement authorities have managed to shut down Silk Road, an underground marketplace where one could allegedly purchase drugs with Bitcoins. The Federal Bureau of Investigation announced on Wednesday that it had arrested the owner of Silk Road, Ross William …

Bitcoin crashes after FBI shuts down underground site Silk Road
11 years, 5 months ago

Bitcoin crashes after FBI shuts down underground site Silk Road

Firstpost  

The price of the bitcoin digital currency dropped on Wednesday, after US law enforcement authorities shut down Silk Road, an online marketplace used to buy and sell illegal drugs. The digital currency’s drop came after the FBI arrested alleged Silk Road owner Ross William Ulbricht, 29, known as “Dread Pirate Roberts,” on Tuesday in San Francisco. Silk Road allowed tech-savvy …

Bitcoin crashes after FBI shuts down underground site Silk Road
11 years, 5 months ago

Bitcoin crashes after FBI shuts down underground site Silk Road

Firstpost  

The price of the bitcoin digital currency dropped on Wednesday, after US law enforcement authorities shut down Silk Road, an online marketplace used to buy and sell illegal drugs. The digital currency’s drop came after the FBI arrested alleged Silk Road owner Ross William Ulbricht, 29, known as “Dread Pirate Roberts,” on Tuesday in San Francisco. Silk Road allowed tech-savvy …

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