The Greatest Crypto Heist: 4.5 Billion Dollars worth Bitcoins Hacked

Are you investing in crypto and bitcoins? If yes, do you think it's safe?

Bitcoins are managed over a blockchain. These blocks maintain a secure and decentralized record of transactions. But still the answer to the question "Is your bitcoin investment safe? " is probably no.

The Greatest Crypto Heist: 4.5 Billion Dollars worth Bitcoins Hacked

The Story

A married couple was arrested on Tuesday by the US Department of Justice (DOJ) said for allegedly trying to launder roughly $4.5 billion worth of stolen Bitcoins.

The Masterminds

US authorities have identified the masterminds Ilya Dutch Lichtenstein and Heather Morgan as the masterminds behind the operation. Although the DOJ has not publicly linked them to the actual hacking of the cryptocurrency exchange, the investigation is ongoing.

Is it possible to hack Bitcoins? 

It’s very difficult to hack the Bitcoin network but there is always a risk of coins being stolen from a wallet in digital currency exchange. In other words, the risks are low, but not nil.

What has gone wrong for the hackers? 

All cryptocurrency exchanges blacklisted the hackers’ addresses. This prevented them from converting the stolen Bitcoin into fiat currency. This is only possible because cryptocurrency is powered by Blockchain technology which makes it easier to track any transaction.

The End Notes

That is all in this article. Hope you liked it. Share this with your friends and family and warn them about investing in cryptocurrency and bitcoins. Though its inevitable risk still exists. 

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