Mt. Gox Hackers Are Two Russian Nationals Stealing 647,000 Bitcoins

Key Points:

• Two Russian nationals charged with hacking and laundering 647k bitcoins from Mt. Gox.
• Allegedly operated another illicit cryptocurrency exchange and laundered stolen bitcoins.

Russian nationals charged with hacking and laundering 647,000 bitcoins from cryptocurrency exchange Mt. Gox and operating illicit exchange BTC-e. DOJ committed to bringing bad actors to justice. FBI, IRS-CI, and Homeland Security Investigations involved in investigating the case.

The United States Department of Justice recently unsealed charges against two Russian nationals for their alleged involvement in hacking and laundering approximately 647,000 bitcoins from the cryptocurrency exchange Mt. Gox. The indictment also alleges that the two individuals went on to operate another illicit cryptocurrency exchange called BTC-e. The charges highlight the Department of Justice’s commitment to bringing bad actors in the cryptocurrency ecosystem to justice and preventing financial system abuse.

According to court documents, the two individuals gained unauthorized access to the server holding the cryptocurrency wallets for Mt. Gox. They fraudulently caused bitcoin to be transferred to bitcoin addresses controlled by them and their co-conspirators.

They allegedly caused the theft of approximately 647,000 bitcoins from Mt. Gox between September 2011 and at least May 2014, representing the vast majority of the bitcoins belonging to Mt. Gox’s customers. They allegedly laundered the bulk of the bitcoins stolen through Mt. Gox principally through bitcoin addresses associated with accounts controlled at two other online bitcoin exchanges.

The indictment charges the two individuals with conspiracy to commit money laundering, and one of them is also charged with operating an unlicensed money services business. The Justice Department noted that the charges are an important milestone in two major cryptocurrency investigations.

The FBI, IRS-CI, and Homeland Security Investigations are among the agencies investigating the case, and the U.S. Attorney’s Offices for the Southern District of New York and the Northern District of California are handling the cases. The Justice Department’s Office of International Affairs has also assisted.

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