In August 2016, Bitfinex, a cryptocurrency exchange, experienced a substantial security breach resulting in the loss of around 120,000 bitcoin, valued at about $71 million at the time. The stolen amount later inflated to a staggering $4.5 billion due to cryptocurrency value increases. Ilya Lichtenstein and Heather Morgan were arrested for the hack and for laundering the proceeds. After guilty pleas, Lichtenstein received a five-year sentence, and law enforcement recovered assets exceeding $10 billion, including cryptocurrency spikes and additional seizures related to the hack. This event highlights the significant risks and financial implications associated with security vulnerabilities and cybercrime within the digital currency space.
Source: https://www.wired.com/story/bitfinex-hacker-gets-5-years-for-10-billion-bitcoin-heist/
"id": "swa000111924",
"linkid": "swanbitcoin",
"type": "Breach",
"date": "11/2024",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"