In 2016, a hacker or hackers gained access to the Bitfinex cryptocurrency exchange and took 119,754 bitcoins worth a total of $72 million. The stolen coins’ worth had risen to almost $4 billion by the time US police detained rapper Heather Morgan and her husband, startup founder Ilya Lichtenstein, last year on suspicion of laundering them. The US Department of Justice’s single greatest recovery in its history. However, the hack’s culprit is still at large.
Ledger Labs, a Canadian cryptocurrency consulting and development company, was hired by one of Bitfinex’s owners, iFinex, to conduct an investigation. The secret report from that inquiry was never made public. However, a copy of the study with specific conclusions has been obtained by the Organised Crime and Corruption Reporting Project.
According to the document’s in-depth findings, conclusions, and suggestions, Bitfinex failed to put the operational, financial, and technological controls recommended by its partner in cyber security, Bitgo, into place.
Although Bitfinex did not question the legitimacy of the repo
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