Bitfinex | Breaking Cybersecurity News | The Hacker News

A married couple from New York City has pleaded guilty to money laundering charges in connection with the 2016 hack of cryptocurrency stock exchange Bitfinex, resulting in the theft of about 120,000 bitcoin. The development comes more than a year after Ilya Lichtenstein, 35, and his wife, Heather Morgan, 33, were  arrested in February 2022 , following the seizure of roughly 95,000 of the stolen crypto assets that were held by the defendants. The funds were valued at $3.6 billion at the time. Since then, the U.S. government said it has seized another approximately $475 million tied to the breach. "Lichtenstein used a number of advanced hacking tools and techniques to gain access to Bitfinex's network," the U.S. Department of Justice (DoJ)  said . "Once inside their systems, Lichtenstein fraudulently authorized more than 2,000 transactions in which 119,754 bitcoin was transferred from Bitfinex to a cryptocurrency wallet in Lichtenstein's control." He is ...

The U.S. Justice Department (DoJ) on Tuesday  announced  the arrest of a married couple in connection with conspiring to launder cryptocurrency worth $4.5 billion that was siphoned during the  hack  of the virtual currency exchange Bitfinex in 2016. Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, both of New York, are alleged to have "stolen funds through a labyrinth of cryptocurrency transactions," with the law enforcement getting hold of over $3.6 billion in cryptocurrency by following the money trails, resulting in the "largest financial seizure ever." Prosecutors charged the couple not for the hack itself, but rather for receiving the stolen bitcoin into a digital wallet under their ownership, a part of which was laundered to conceal the activities and the movement of the money. In 2019, Israeli authorities apprehended two brothers, Eli and Assaf Gigi, over their supposed involvement in the 2016 security breach. "Bitfinex will work with the Do...

Vulnerability Management (VM) has long been a cornerstone of organizational cybersecurity. Nearly as old as the discipline of cybersecurity itself, it aims to help organizations identify and address potential security issues before they become serious problems. Yet, in recent years, the limitations of this approach have become increasingly evident.  At its core, Vulnerability Management processes remain essential for identifying and addressing weaknesses. But as time marches on and attack avenues evolve, this approach is beginning to show its age. In a recent report, How to Grow Vulnerability Management into Exposure Management (Gartner, How to Grow Vulnerability Management Into Exposure Management, 8 November 2024, Mitchell Schneider Et Al.), we believe Gartner® addresses this point precisely and demonstrates how organizations can – and must – shift from a vulnerability-centric strategy to a broader Exposure Management (EM) framework. We feel it's more than a worthwhile read an...

Over two months ago, the world's third largest Bitcoin Exchange Bitfinex lost around $72 Million worth of Bitcoins in a major hack. Shortly after the company encountered a $72,000,000 Bitcoin theft, an unnamed Bitfinex user from Cambridge, Massachusetts, filed a police report in September, alleging that $1.3 Million of funds were stolen from his account. Since then the Cambridge police have handed the case over to the FBI, which is working with the Bitcoin exchange as well as European authorities to recover funds stolen from the Bitfinex user, Coindesk reports . The individual claimed that he held $3.4 Million in Bitcoin in his personal wallet hosted by the Bitfinex Bitcoin exchange. But following the August's Bitfinex breach, he was left with $2.1 Million in his account. Bitfinex then notified the individual of his initial loss of approximately $1.3 Million in Bitcoin, but after the company issued IOU tokens as an emergency measure to keep the exchange operating, the l...

Hong Kong-based Bitcoin exchange 'Bitfinex' that lost around $72 Million worth of its customers' Bitcoins last week is now offering a reward of $3.5 Million to anyone who can provide information that leads to the recovery of the stolen Bitcoins. Bitfinex revealed on August 2 that the cryptocurrency exchange had suffered a major security breach, which resulted in the loss of nearly 120,000 BTC. The hack led to a 36 percent loss for each Bitfinex customer, who will be issued tokens to be redeemed as the company is able to reimburse the losses. Now, the exchange is willing to offer 5% of the lost funds ( nearly 6,000 BTC ) as a reward for the recovery of the stolen bitcoins. The news came after a Reddit user, using alias someguy916, inquired about a reward Bitfinex would be willing to offer for the stolen bitcoins. In response to the question, Bitfinex community director Zane Tackett stated that a bounty would be awarded to anyone who has information that would hel...