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Bitfinex ordered to freeze $860,000 in bitcoin linked to a ransomware payment.

The U.S. Department of Justice has recovered $2.3 million in bitcoin from the DarkSide ransomware attack on the Colonial Pipe
The U.S. Department of Justice has recovered $2.3 million in bitcoin from the DarkSide ransomware attack on the Colonial Pipeline infrastructure.

The crypto exchange Bitfinex and blockchain analysis firm Chainalysis traced back nearly a million-dollar funds in bitcoins back to a ransomware payout. England and Wales High Court has ordered Bitfinex to freeze the address and share its KYC (Know your customer) details. A leading cyber insurer used Chainalysis software to track the extorted funds.

A firm paid $950,000 in bitcoin to the hacker.

The victim of this ransomware attack is an unnamed firm that was asked to pay $1.2 million in bitcoins. The company’s insurer, which filed the court claim, ultimately paid $950,000 in the form of 109.25 bitcoins. Some of the bitcoin was converted into fiat currency, and the remainder appears to have been sent to an address on the Bitfinex platform.

Bitfinex named as a defendant in the filing.

Bitfinex and its parent company iFinex have been named as the parent company iFinex has been named as defendants in the case. The exchange said that it is now working with the claimant to trace the bitcoin and that it is not now seen as being involved with the crime. The exchange said that they have robust systems in place to allow it to assist law enforcement authorities and litigants in cases such as this.

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