Analysis Today TheBitTimes.com

Two U.S. elected officials wrote to the Department of Justice, calling for a concluded investigation on Binance and Tether that could lead to litigation against the pair of crypto heavyweights. Senator Cynthia Lummis, who sits on the Senate Banking Committee, cited an Oct. 10 Wall Street Journal (WSJ) report claiming that Hamas and its affiliate raised millions through cryptocurrencies.  The article in question and subsequent reports of the same ilk have since been refuted by blockchain data companies like Elliptic, per crypto.news. Lummis’ letter noted the likelihood of inaccuracies in WSJ reporting but insisted that the Justice Department exercise judicial might to counter crypto terror financing.  Though subsequent reports have highlighted that the level of funding reported in the article is likely not accurate we believe it is nonetheless imperative that the Department of Justice hold bad actors accountable if they are shown to facilitate illicit activity. Senator Cynthi...

Ilya Lichtenstein, a resident of New York, has confessed to his involvement in the laundering of stolen Bitcoin worth $4.5 billion that was taken during the 2016 Bitfinex hack. This is a significant development as the hacker’s identity was previously unknown.  Despite doubts about the couple’s capacity for orchestrating such a crime, blockchain records revealed a clear trail from Bitfinex to a wallet found in Lichtenstein’s possession by authorities.  You might also like: Bitfinex hackers may plead guilty, prosecutors to recover $3 billion In February 2022, the U.S. Department of Justice (DoJ) seized a significant amount of stolen Bitcoin after making arrests. This action marked the biggest asset forfeiture operation that the department has ever conducted. While Lichtenstein has pleaded guilty, the couple has yet to be charged with the cyberattack. The guilty plea comes seven years after Bitfinex was hacked.  Federal law enforcement and p...