• The Department of Justice (DOJ) has charged two Russian nationals, Alexey Bilyuchenko (43) and Aleksandr Verner (29), for conspiring to launder approximately 647,000 bitcoins from the Mt. Gox hack.
• The attack on Mt. Gox reportedly began in September 2011 when the hackers gained access to the Japanese computer system holding private keys controlling customers’ Bitcoin.
• The stolen assets were funneled through accounts controlled by Bilyuchenko, Verner, and their co-conspirators at other crypto exchanges.
DOJ Identifies Hackers Stealing from Mt. Gox
The Department of Justice (DOJ) has identified and charged two Russian nationals for stealing hundreds of thousands of Bitcoin from the now defunct crypto exchange giant Mt. Gox. Alexey Bilyuchenko (43) and Aleksandr Verner (29) are being charged with “conspiring to launder approximately 647,000 bitcoins from their hack of Mt. Gox” that dates back to roughly September 2011 when co-conspirators gained unauthorized access to the Japanese computer system holding the private keys controlling customers’ Bitcoin.
Co-Conspirators Funnel Assets Through Accounts
The bulk of stolen assets was funneled through Bitcoin addresses connected to accounts controlled by Bilyuchenko, Verner, and their co-conspirators at other crypto exchanges as stated by the DOJ in a press release on Friday. While Mt. Gox officially suspended trading in February 2014, the hack continued until May 2014 after which it had already forfeited plans to rebuild itself as an exchange platform again..
IRS Dedicated To Holding Criminals Accountable
The IRS Criminal Investigation division is dedicated to tracking down criminal activity such as this made possible by following complex financial trails left behind by criminals according to its Chief Jim Lee in a statement made shortly after charges were filed against both men: “IRS Criminal Investigation (IRS-CI) is specially equipped to follow the complex financial trail left by criminals, and we are dedicated to holding those accountable for crimes committed.”
MtGox Hacking Incident Resurfaces After Years Of Silence
This incident marks one of many resurfacing hacks that occurred years ago but have only recently been addressed due to advancements in blockchain analytics technology allowing law enforcement authorities greater visibility into cryptocurrency transactions than ever before – a tool which has become increasingly relevant as more people enter the world of digital currency investing .
Crypto Exchange Security Still A Major Challenge
Despite these recent developments however security remains a major challenge for crypto exchanges all over world – with even some of today’s most advanced platforms falling victim to hacks or scams involving impostor websites or malicious software downloads like phishing attacks posing as legitimate coins or wallets applications .