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The Hacker News — Cyber Security and Hacking News Website: Bitfinex

FBI is Investigating Theft of $1.3 Million in Bitcoin from a Massachusetts Man

FBI is Investigating Theft of $1.3 Million in Bitcoin from a Massachusetts Man

October 15, 2016Swati Khandelwal
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
Bitcoin Exchange Offers $3.5 Million Reward for Information of Stolen Bitcoins

Bitcoin Exchange Offers $3.5 Million Reward for Information of Stolen Bitcoins

August 14, 2016Mohit Kumar
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
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