Reference

The investigation into the Bitcoin bust, also known as the Bitfinex hack, refers to the 2016 theft of approximately 120,000 Bitcoins from the cryptocurrency exchange Bitfinex. The hack resulted in a loss of around $72 million at the time.

The main findings of the investigation are as follows:

1. Seizure of $3.6 billion in stolen Bitcoin: In February 2022, the US Department of Justice (DOJ) seized $3.6 billion in stolen Bitcoin, which is considered the largest financial cryptocurrency bust to date. [1]
2. Arrest of NYC couple: The DOJ arrested a couple, Ilya Lichtenstein and Heather Morgan, in Manhattan, accusing them of laundering a record $4.5 billion worth of stolen cryptocurrency. [2]
3. Tracking down the stolen Bitcoin: Investigators used advanced tracing techniques to track down the stolen Bitcoin, which was moved through various cryptocurrency exchanges and wallets. [3]
4. Use of crypto-analytic tools: Law enforcement agencies used crypto-analytic tools, such as those provided by Elliptic, to trace the flow of funds and identify the perpetrators. [4]
5. Collaboration between agencies: The investigation involved collaboration between various law enforcement agencies, including the DOJ, the Internal Revenue Service (IRS), and the Federal Bureau of Investigation (FBI). [5]

The investigation highlights the importance of cooperation between law enforcement agencies and the use of advanced technologies to combat cryptocurrency-related crimes.

References:

[1] https://www.foxbusiness.com/markets/doj-3-6-billion-bitcoin-couple-bitfinex [2] https://www.investopedia.com/doj-seizes-usd3-36-billion-in-second-largest-bitcoin-recovery-on-record-6826287 [3] https://www.pcmag.com/news/feds-seize-36-billion-in-bitcoin-tied-to-bitfinex-hack-from-2016 [4] https://time.com/6146749/cryptocurrency-laundering-bitfinex-hack/ [5] https://www.justice.gov/opa/pr/two-arrested-alleged-conspiracy-launder-45-billion-stolen-cryptocurrency

Image sources:

1. https://i0.wp.com/www.winterwatch.net/wp-content/uploads/2017/12/Bitcoin-2.jpg?resize=600,350&ssl=1
2. https://crypto.news/app/uploads/2022/02/crypto-news-image.webp
3. https://news.hitb.org/sites/default/files/styles/large/public/2022-04/Crypto-Trap2.jpg?itok=wENBnBme
4. https://blocknews.com/wp-content/uploads/2024/01/Record-Breaking-Bitcoin-Bust-by-German-Prosecutors-and-FBI.png
5. https://praescientanalytics.com/wp-content/uploads/2022/04/1-1-e1650986227835-1536x802.jpg