Bitcoin News and Finance Individual Detained in Romania Under Suspicion of Stealing Thousands of Cryptos From an Unnamed Major Exchange Skip to main content

Individual Detained in Romania Under Suspicion of Stealing Thousands of Cryptos From an Unnamed Major Exchange

Individual Detained in Romania Under Suspicion of Stealing Thousands of Cryptos From an Unnamed Major Exchange

Romanian authorities pursued an operation that left a person detained for the individual’s alleged involvement in a case of stealing from a cryptocurrency exchange. The investigation revealed that the unnamed trading platform company is located in the Cayman Islands.

Over $620,000 Stolen During the Cyberattack

According to the prosecutors of the Directorate for the Investigation of Organized Crime and Terrorism of Romania, the crypto exchange suffered a massive cyberattack between January 28 and 31, 2021.

Although there are no significant details on the company, authorities categorized it as the “7th largest cryptocurrency operator in the world.” The unidentified man is suspected of having been caught in the heist involving over $620,000 worth of crypto.

Per the official press release, prosecutors have charged him with IT fraud, money laundering, and hacking. Findings also show that the alleged hacker got access to sensitive API codes, which eventually opened the doors to the entire exchange’s system’s full access.

Individual to Remain Detained for 30 Days

The individual reportedly transferred the stolen cryptos to several wallets to hide the traceability of the transactions. To bypass verification procedures, withdrawals were made by the man with amounts less than 10,000 lei ($2,430).

Still, the individual intended to profit with such moves, as the people behind the wallets paid him in fiat, said the prosecutors.

Romanian authorities provided more details on the operation in Iași:

The prosecutors of DIICOT — Iași Territorial Service together with judicial police officers from BCCO Iași carried out two home searches, following which seven mobile phones, three laptops, five memory sticks, and two electronic wallets and the amount of 10,800 lei ($2,630). The amount of 40,000 lei ($9,750) was also recovered, in the account of one of the bitcoin exchangers.

The defendant is set to face pre-trial detention for 30 days, as the Iași Court will be in charge of handling the legal procedures of the case.

What do you think about the operation that took place in Romania? Let us know in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory