Reportedly, Bitcoin worth $140K has been moved from a forfeited account by suspected North Korean hackers.
About 12 BTC, which is worth nearly $140,000 from one of the 280 accounts, which the US Department of Justice have targeted for seizure has been moved. This might mean that they are the owners.
A recent Whale Alert “The forfeited address is possibly a Huobi deposit address that received 2.97069728 BTC a few days ago. The address was swept today [Aug. 31] together with deposits made by other users.”
The US investigators have to state that the hackers make use of a technique called “Chain Hopping” where one kind of cryptocurrency is converted to another to cover up their transaction tracks. Accusation is placed on Chinese over-the-counter traders in the process of helping to launder these funds.
Sydney Ifergan, the crypto expert tweeted: “Bitcoin (BTC) is worthy of value. Anything that is worthy gets hacked and trapped and moved. The stuff keeps happening!”
Despite, the high-tech strategies used in the “Chain Hopping” process the IRS-CI cybercrimes unit were able to trace the stolen funds which lead to the North Korean Actors.
Reportedly, the 280 addresses were stolen because of the investigation to identify the exchanges cooperating in the process. This is to avoid the stolen funds getting converted to fiat and getting lost forever.
It has been previously reported that about $2 billion have been made in profits by North Korea in past cyberattacks.
Bitcoin (BTC) Payment for Tesla Conspiracy
Another incident of fraud related to Bitcoin (BTC) is about the Elon Musk Founded Tesla where the Department of Justice launched an investigation in to Tesla.
Egor Igorevich Kriuchkov, 27, a Russian National has been charged for alleged conspiracy for having asked an employee to be a part of a special project where in the employee will be getting $1 million worth of Bitcoins as payment.
Kriuchkov and his accomplices expected to get $4 million from the conspiracy where they were planning to execute a malware, which will give criminals access to Tesla data and to further threaten to disclose the data online and to use them for their ransom needs.
A sting operation was launched by the FBI after they got the information about the Tesla Conspiracy. The Law enforcement agencies are currently building charges.
The sting operation continued from July until August 22, 2020. The court has now preferred the charges of conspiracy intentionally caused to damage a protected computer on Kriuchkov.
Reportedly, per Bitcoin.com, the court records have documented, “Kriuchkov and the co-conspirator advised the employee that the computer used to receive the malware transmission should remain running for six to eight hours. The unidentified co-conspirator stated that once the group received access to Victim Company A (Tesla’s) data, they would execute a simulated external attack of the company.”
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