Feds Say They've Finally Identified the Hackers Behind the Mt. Gox Crypto Collapse
major crypto exchanges to buckle under the weight of theft and financial mismanagement, Mt. Gox was hacked in 2011, leading to the loss of some 647,000 bitcoins. Not long afterward, the company imploded, and its former CEO was arrested and charged with fraud and embezzlement. At the time, Mt. Gox was
in the world, and its downfall sent painful shockwaves through what was then a relatively young crypto community.Since then, the identities of the hackers responsible for the massive theft have remained a secret, but, according to the unsealed, the culprits have now been identified: Alexey Bilyuchenko and Aleksandr Verner, two Russian nationals, are accused of masterminding the gargantuan digital heist.
“As alleged in the indictments, starting in 2011, Bilyuchenko and Verner stole a massive amount of cryptocurrency from Mt. Gox, contributing to the exchange’s ultimate insolvency,” said Assistant Attorney General Kenneth A. Polite, Jr., after the indictment was unsealed. “These indictments highlight the department’s unwavering commitment to bring to justice bad actors in the cryptocurrency ecosystem and prevent the abuse of the financial system.
Since then, Mt. Gox has been considered a canary in the digital asset coal mine—a disaster that presaged a veritable
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