Israeli Brothers Arrested For Bitfinex Exchange Hack

The latest altcoin news show that two Israeli brothers have been finally arrested as the suspects for the Bitfinex cryptocurrency exchange hack. However, this is not the only case that these Israeli brothers are involved in, according to the finance news outlet Finance Magnates and its recent reports from June 23.

A police spokesperson reportedly spoke with Finance Magnates, telling the news site that Eli Gigi as well as his younger brother Assaf Gigi netted tens of millions of dollars. According to it, the two are suspected of being responsible for long-term systematic theft of cryptocurrencies. The Israeli brothers, as news show, managed to obtain access to other users’ accounts in a malicious way.

Their work began when they started creating credential-stealing clones of major online cryptocurrency exchanges and wallets – sending links to those phishing sites on Telegram groups and many other crypto related communities. As many best cryptocurrency news sites reported, the two are also accused of being responsible for the Bitfinex exchange hack which occurred in 2016 and saw multiple accounts being compromised.

The coming altcoin news at the beginning of this month showed that the funds stolen in the attack above have been recently moved. The police noted that the victims were mostly based out of the European Union and the United States – which resulted in the matter being investigated by many law enforcement agencies – and how it led to the Israeli brothers.

The site also noted that one of the brothers, eli Gigi, is a graduate of an elite technological unit of the Israeli Defence Forces which selects youth with outstanding academic capabilities.

Meanwhile, a recent Firefox zero-day security flaw was unveiled, showing that it was used in attacks against the major crypto exchange and wallet service Coinbase. The flaw was apparently merged with another zero-day flaw targeting Coinbase employees, meaning that there were two separate attacks.

Even though Coinbase was affected, the exchange’s security researcher Philip Martin stated that the exchange was not the only crypto-related company targeted in the campaign – and that there was no evidence of the campaign targeting exchange customers.
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All in all, the two Israeli brothers who were arrested for the Bitfinex hack have been definitely one of the biggest scammers out there.