What happens if you hack 4.5 billion BTC? // The Code Report

Blockchain networks are virtually unhackable, but crypto exchanges not so much. In 2016, hackers stole 4.5 billion in BTC from the Bitfinex exchange - in 2022 they were busted trying to launder the money. Let's take a look at security on crypto exchanges.

#crypto #hacking #TheCodeReport

🔗 Resources

DOJ Documents https://www.justice.gov/opa/pr/two-arrested-alleged-conspiracy-launder-45-billion-stolen-cryptocurrency
Bitfinex hack https://en.wikipedia.org/wiki/2016_Bitfinex_hack
Blockchain in 100 Seconds https://youtu.be/qF7dkrce-mQ

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🔖 Topics Covered

- 2016 Bitfinex hack
- Arrest of Ilya Lichtenstein and Heather Morgan
- How does bitcoin get hacked
- Are crypto exchanges safe?
- Cold wallet vs Hot wallet
- Multi-signature wallets
- RazzleKhan rapper