Two Israeli brothers arrested for hacking Bitfinex and phishing fraud.

Two Israeli brothers arrested for hacking Bitfinex and phishing fraud.

Two Israeli brothers from Jerusalem, Eli and Assaf Gigi, were arrested by the cyber unit of the Israeli Police a few days ago in connection with the 2016 hack of Bitfinex’s cryptocurrency exchange which saw multiple accounts being compromised.
and other related phishing scams, Finance Magnates report. Earlier this month, after three years of lying dormant, some of the stolen bitcoin were reported moving from hack-related wallets.

According to Finance Magnates, an Israeli police spokesperson has revealed that Eli Gigi and his younger brother Assaf Gigi made tens of millions of US dollars By accessing the wallets of traders, the two are suspected of a lengthy and systematic robbery of Bitcoin (and obviously other Altcoins as well).

They did this by posting links on Telegram groups, Reddit groups and other trading groups and forums. The siblings gathered the data after the traders clicked on the links and provided their private keys which the brothers then used it to transfer the crypto coins to their own wallets.

Police claim that they may also have used other strategies, including dropping links to wallet management software that would give them access to the victim’s funds once downloaded. Police observed that the supposed victims were predominantly based in Europe and the United States, resulting in various law enforcement agencies investigating the matter in several nations.

The police managed to get ahold of a crypto wallet during a raid on Eli Gigi’s house earlier this week. The amount of cryptocurrency it contained, however, according to Posta, was “considerably smaller” than the suspected amount stolen. The police also uncovered  luxury vehicles owned by the suspects.

As Posta reported, Eli apologised in court saying, he was wrong and is sorry and willing to cooperate.

The spokesperson for the police stressed that new developments could soon be unraveled.

Media Team Bezop

Bezop Media Unit is a happy team of crypto enthusiasts who are ready to keep you updated real-time in the fast paced crypto world.

Leave a Reply

Your email address will not be published. Required fields are marked *