Dive into the story of the hacking of crypto exchange Mt. Gox, where two Russians were accused of stealing 647,000 Bitcoins. Find out how they managed to get hold of these precious cryptocurrencies and the consequences that followed. A revelation that puts an end to years of mystery and underlines the authorities’ commitment to pursuing malicious players in the crypto-world.”
Twelve years ago, in the ever-evolving world of cryptos, an event of exceptional magnitude shook the community. The hacking of crypto exchange Mt. Gox made headlines around the world, leaving an unsolvable mystery in its wake. But today, U.S. authorities are finally revealing the true story behind the epic theft of 647,000 Bitcoins (BTC).
The theft that contributed to the collapse of Mt. Gox!
In an explosive release, the U.S. Department of Justice (DOJ) reveals that two individuals, Alexey Bilyuchenko, age 43, and Aleksandr Verner, age 29, are accused of conspiring to launder the 647,000 Bitcoins stolen during the Mt. Gox hack in 2011.
The release puts an end to years of speculation and suspicion, as for a long time, Mt. Gox CEO Mark Karpeles was considered the prime suspect. But the new revelations dismiss this hypothesis, pointing instead to these two Russian nationals.
According to U.S. authorities, Bilyuchenko and Verner managed to break into Mt. Gox’s servers, gaining access to the exchange’s cryptocurrency wallets. At the time, Mt. Gox was the undisputed giant of the crypto industry, and users’ trust in the platform was unshakeable.
The massive theft of these 647,000 Bitcoins not only caused considerable financial losses for users, but also contributed to the collapse of Mt. Gox. The consequences of this audacious act were felt throughout the cryptocurrency ecosystem, raising questions about the security of exchange platforms and the protection of digital assets.
Commenting on the revelation, Assistant Attorney General Kenneth A. Polite, Jr. of the Department of Justice’s Criminal Division, stressed the importance of this step in the fight against bad actors in the cryptocurrency ecosystem. He claims that :
Bilyuchenko and Verner stole a colossal sum of cryptocurrency from Mt. Gox, contributing to the exchange’s collapse. Using the illegally acquired profits, Bilyuchenko then allegedly helped create BTC-e, a notorious virtual currency exchange platform used to launder money from cybercriminals around the world.
This revelation highlights the authorities’ unwavering commitment to prosecuting malicious actors in the crypto-currency ecosystem and preventing abuses of the financial system.
After twelve years of waiting, Mt. Gox users who lost their funds in the hack are still waiting for compensation, which seems to be constantly postponed. The investigation by the US authorities finally sheds light on one of the biggest hacks in the history of cryptocurrencies, putting an end to years of uncertainty and questioning.