A Bitcoin account worth $964,000,000 was emptied on Tuesday, and after much speculation we now know who did it!
Bitcoin, the online cryptocurrency invented in 2008, has built up a cult-like following in the past decade. The mysterious wallet containing almost a billion dollars was closely watched by cryptocurrency enthusiasts around the world. The wallet had been dormant for several years and was a prime target for hackers. But on the night of the US presidential election, the wallet was completely emptied. The incident was reported by Alon Gal, co-founder and Chief Technology Officer of cybercrime intelligence company Hudson Rock.
It was initially thought that the secretive account owner had moved the wallet’s contents to a different address to protect it from hackers or, as Alon Gal assumed, that a lucky hacker had finally cracked the code and come away with a gigantic payday. However, it has now been revealed that the wallet was connected to Silk Road, a notorious dark web market known for trading illegal drugs that was shut down in 2013, and that its contents were seized by the US government. The case is the biggest cryptocurrency seizure to date.
The Department of Justice took control of the wallet on Monday after an unnamed hacker agreed to forfeit the cryptocurrency. The hacker allegedly stole the Bitcoin from Silk Road in 2013 and then transferred it to the infamous wallet.
After being passed around between hackers for at least a year in the hopes that someone could pull off the billion-dollar heist, the government beat them to it and one of the world’s most expensive bitcoin wallets is now empty.
Better luck next time hackers!
Click here for a deeper look into the security of cryptocurrency accounts.
