Two Israeli brothers who were allegedly involved in the hack of cryptocurrency exchange Bitfinex have been arrested by the local police, as reported finance news outlet Finance Magnates on June 23.
As per an Israeli police spokesperson, who is quoted by the Finance Magnates, the two suspects Eli Gigi and his younger brother Assaf Gigi have siphoned tens of millions of dollars. The duo is also suspected to be involved in the long-term systematic theft of cryptocurrencies. through maliciously obtaining access to other users’ accounts.
Allegedly, they created credential-stealing clones of major online cryptocurrency exchanges and wallets. These links were then shared on phishing sites on Telegram groups and other cryptocurrency-related communities. Notably, the duo is also accused of being responsible for the 2016 Bitfinex hack, that compromised multiple accounts.
Reportedly, the funds from the aforementioned attack have been moved recently. As per the police, the alleged victims mostly worked out of the European Union and the United States, which lead to the matter being investigated by multiple law enforcement agencies in several countries.
The police have reportedly discovered a cryptocurrency wallet during the raid. However, the sid wallet has significantly fewer funds that the duo has been suspected to have stolen. The publishing went on to note that Eli Gigi is a graduate of an elite technological unit of the Israel Defence Forces, the force is known to select youth with outstanding academic capabilities.
Last week, major crypto exchange and wallet service Coinbase was vulnerable and attacked under a recent Firefox zero-day security flaw. Notably, the flaw merged with another zero-day flaw targetted at the Coinbase employees. While the two separate attacks did affect Coinbase, its security researcher Philip Martin added that Coinbase wasn’t the only crypto-related company targeted in the campaign.
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