Israeli Police Arrest Brothers Allegedly Involved in the 2016 Bitfinex Hack

Authorities in Israel have recently arrested two brothers involved in cryptocurrency related phishing schemes, and the 2016 Bitfinex hack that saw the cryptocurrency exchange lose about $70 million worth of cryptocurrency.

According to Israeli news outlet Posta, the two brothers from Jerusalem were arrested a few days ago for conducting cryptocurrency-related phishing schemes, through which they reportedly managed to make millions of dollars.

While some news outlets report the brothers managed to make as much as $100 million stealing cryptocurrency, financial news outlet Finance Magnates reached out to the Israeli police and was told the sum is much lower, around the “tens of millions of dollars.”

The arrested Israelis, Eli Gigi and his younger brother Assaf Gigi, are said to have created fake websites identical to those of legitimate cryptocurrency services and businesses – including of exchanges – to trick users into trying to login through them.

Read More at CryptoGlobe

#Israel #Bitfinex #Security

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