FBI recovers 63.7 of 75 BTC paid by Colonial Pipeline as ransom

[Big Bad Bob]

https://www.theregister.com/2021/06/08/antiransomware_task_force/

I guess they "followed the money". The fact that they DID and obviously
CAN do it puts a GREAT deal of stress on the legitimacy of using BTC to
hide the identity of those who use it for any kind of transaction.

"The US Department of Justice on Monday said it has recovered 63.7
Bitcoins, right now worth $2.1m and falling, of the 75 or so BTC the
Colonial Pipeline operators paid the ransomware miscreants who infected
the fuel provider's computers."

And FALLING. 75 coins were worth $5m when they paid the ransom.
Apparently now, the ransom of 75 coins is only worth about $2.5m [I did
the math], and the FBI recovered $2.1m of it.

"It turns out the Feds were able to trace this payment through multiple
transactions to 'a specific address, for which the FBI has the ''private
key'',' the DoJ said. 'This Bitcoin represents proceeds traceable to a
computer intrusion and property involved in money laundering, and may be
seized pursuant to criminal and civil forfeiture statutes.'"

"So it is quite possible Darkside's infrastructure was commandeered by
the Feds, who were able to return the 75 BTC ransom minus the fee
already paid by the ransomware gang to their affiliate that did the
actual job of infecting the Colonial Pipeline's computers – which was
said to have occurred via a compromised VPN account."

[conspiracy theory warning]

Or, VLAD PUTIN gave the information TO the Feds in exchange for being
able to finish _HIS_ pipeline (while OUR pipeline is STILL shut down by
BITE-ME's *STUPID* *POLICIES*, 30,000 union jobs lost, THANKS DEMON-RATS
@##$%!^& oh but I digress...)

"The Deputy AG continued that the Bitcoin seizure – authorized by a
magistrate judge in California – was only possible because the Colonial
Pipeline's operators got the FBI involved early in the process."

Well, THAT is good, then. If it helps to NAIL the crooks, I no longer
mind having that ransom paid like that. "Tainted Money" apparently.
It's an old trick, which means the FBI *STILL* knows how to do OLD
SCHOOL POLICE WORK.

<quote>
“For financially motivated cybercriminals, especially those presumably
located overseas, cutting off access to revenue is one of the most
impactful consequences we can impose,” said FBI Deputy Director Paul
Abbate at a press conference on Monday. "We can have an immediate and
permanent effect on ransomware."
</quote>

And, a resounding applause for the FBI for quickly getting this last
part done.


So, is anyone STILL expecting BTC to increase in value? I thought not...

[Auric__]

Post by Big Bad Bob
So, is anyone STILL expecting BTC to increase in value? I thought not...

I've never trusted cryptocurrencies. If I were to invest in any, I'd consider
them to be high-risk.