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An Exploration of the Money Laundering Associated with the Bitfinex Bitcoin Hackwatermark.silverchair.com/jeta-2023-017.pdf?token=AQECAHi208BE49Ooan9kkhW_Ercy7Dm3ZL_9Cf3qfKAc485ysgAAA2YwggNiBgkqhkiG9w0BBwagggNTMIIDTwIBADCCA0gGCSqGSIb3DQEHATAeBglghkgBZQMEAS4wEQQMmkWIl_gFcMsIAwMkAgEQgIIDGSHCzDJAe755MWxVSXf6pED4YNE5yEQYThrc2lhKayC_MLJcCKVdtksZs9WM9Zdk1ieXCWxdsC2RAgMoQsvCpgl9e4NbS-PJCy0TWSY7dt4Qb48Gohk0x6EBlSpSRGNoNWAFNu9xWa-0gdGTH6uAMFcAIJSIQtltNW15_K1xv2ufFmDX7bbwk9ZAcT8bce4oBjt678Vn1_AoFnDuVvQHF3T72VHTO2nQti0H-PRW1RktSdGuhyzrN7SaO7GNSUztkMd7jUqoO1mKTAPEY-SDIWejDO1C-3gVxMA35QwjlHm2RNhX_t1UMfpJA67LdyFv2h45XaUI2D2vk9SVWGZ5AfvAOjGaxFDBQNtHXvKfE5-svHOwDoS92fqcckSK-tQl5URT7URn-NgJRW2S3FxYDc8aaTUPT3G9OEdX83lKDc20SaiBaEwW0r1rZ168rEh-_pMQVxAqDvWNHbON96Cayw89jF5O2-qbz75JFCQZFSnRSZyvS-FfWu820sbVV2yuvLMrWmlkySNfqEl4lthDASwdfrvyXWynHIoJh2FnNttQjzbvimrUsKrb_pKGM46ZbobjaNKERvjUjfyxMHULMeze0uSziXrUgexywlYx5EKxq0cRw525af8nH45fv9VsSGV81gN371_ASNXWv-zlCJJcVWQYLR8BeuHTcywFDWa1kUekia9EN7WcaDB2U8C86irhM1uRE3RXVfB5aW7JX8V2TZkypXVQucefUeZ-l6HszuxgGZWXDCPJ16OfzDc4Y6sDch7tfhKQVminOCFSbW29Fy6T67EuNNynQRi8KS-Tx-YsYPuYLcYgWckf_Y8cn022ZK7WIRqCaGaUWoDKAP8o6CpAxCVjovZZFMEdMOpNCoag9vPVEOexWpReUgum1CBDGhzLUPhBpJ_MhPeSO87JNlTMaljORelSq6GV5PVqL_-QJ0eHu4e3Vha-lpiC3_CirZILR1bqfYbpxlBhK0mJDjV2HWP4gvIu9VgqcFXJ7HYO49gMjrnjLH10J--ADUnBAGIYEYl38b6sDscmmRHCcb_zMvivzsI
919 sats \ 8 comments \ @doofus 19 Feb 2024 bitcoin
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134 sats \ 2 replies \ @south_korea_ln 19 Feb 2024

Abstract:

Bitcoin, launched in 2009, has gone through inconspicuous years, halcyon years, and now, the chaos years. Writers predicted that bitcoin would replace fiat currencies and the underlying technology, blockchain, would significantly reduce the need for auditors. However, there have been numerous major cryptocurrency crimes and related bankruptcies. Called the “heist of the century,” in the 2016 Bitfinex hack, 119,754 bitcoins were illegally transferred from over 2,000 Bitfinex accounts to an external wallet. Starting in January 2017, about 25,118 of those bitcoins were transferred to other exchanges. Several money laundering techniques were employed; however, the perpetrators made mistakes and were arrested in 2022. They were identified through analyzing the bitcoin blockchain, geolocating the IP addresses used for communications, and identifying individuals when bitcoin was used for “real world” transactions. The bitcoin blockchain is publicly available and would be a great resource for Big Data, data analytics, and forensics classes.
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228 sats \ 1 reply \ @DarthCoin 19 Feb 2024 freebie

Bitfinex so called "hack" was actually an inside job. A master piece of deception... with many levels involved. That "hack" lead to creation of today's Tether, the precursor (preparations) of CBDCs.

Here some resources to dig in:

Be aware, this paper OP posted, is just another way to cover up the inside job and used the patsies as "hackers".... You have to look deeper than this to find out the meaning of all this.

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4 sats \ 0 replies \ @freetx 19 Feb 2024

Generally many many "hacks" are in fact inside jobs.

However, in case of Bitfinex they actually went to pretty good lengths to pay off all the victims at the time. they sold shares in the company to do so.....seems dubious that they would "hack themselves" only to borrow money to pay back victims.

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29 sats \ 2 replies \ @south_korea_ln 19 Feb 2024 freebie

Your session has timed out. Please go back to the article page and click the PDF link again. error when clicking the link...

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0 sats \ 1 reply \ @doofus OP 19 Feb 2024

Thanks, I just missed the 10 minute edit window. Here is the link to click the link to the PDF:

https://publications.aaahq.org/jeta/article/doi/10.2308/JETA-2023-017/12272

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26 sats \ 0 replies \ @south_korea_ln 19 Feb 2024

Great, it works, thanks!

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4 sats \ 0 replies \ @kristapsk 19 Feb 2024

"JointMarket" :) :) :)

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0 sats \ 0 replies \ @doofus OP 19 Feb 2024
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