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Two brothers from Israel hacked Bitfinex crypto exchange

Two brothers from Israel hacked Bitfinex crypto exchange

The investigations carried out into the incident of hacking the crypto exchange Bitfinex, that took place at the beginning of the month, lead to that Israelis stood behind it, as resources unveiled today.

The article was updated on 19 November, 2019 by Amicus.

24 June, 2019 | AtoZ Markets – Eli Gigi and his younger brother Assaf Gigi have stolen tens of millions of dollars in cryptocurrencies. And the Israeli Police confirm after both of them created “credential-stealing clones” of prominent cryptocurrency exchanges and wallets. And they sent the links of their fake exchanges to the cryptocurrency wide community on online groups. Its like Telegram and other sites that hackers used for cryptocurrency-related talks exchange.

The Israeli brothers are now suspected of many other hacking incidents of cryptocurrencies. However, they managed to gain access to many user accounts on the exchange, through their malicious code.

They might be behind the 2016 Bitfinex crypto exchange hack

As per the investigations today, one of the brothers is a graduate of an elite technological unit of the Israel Defence Forces. He might also be liable for the 2016 Bitfinex hack. That yielded in many accounts compromised.

The investigations also unveil that most of the victims are based outside the United States and the EU. The thing that also took electronic investigations. That is in collaboration with multiple law enforcement agencies further in other countries to track the hackers.

In a raid they conducted, the Israeli authorities put their hands on cryptocurrency wallets. However, the funds the wallets showed were much less than the lost amounts reported.

The well-known internet browser Firefox underwent a security threat recently. The thing has also helped hackers target victims in many areas worldwide. That was for different purposes.

The technical zero-day security flaw opened the door to hackers to gain access to the cryptocurrency exchanges and wallet service Coinbase. That was including their staff’s accounts.

On his turn, the exchange’s security researcher Philip Martin commented against the background of the hack Coinbase underwent.  His exchange was not the only one that hackers compromised. And that the technical staff’s investigations do not show. Yet that customer accounts also affected.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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