Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: Norski
Also understand that a ransom paid in bitcoin to business hackers recently was recovered by a governmental agency. - Colonial Pipeline, possibly?

Wondering how that was accomplished. Should it not be impossible with cryptocurrency?

In order to maintain control of bitcoin you need to maintain exclusive control of a cryptographic key, the private key. This key allows you to digitally sign a transaction to move the bitcoin. So, to recover the ransom, they needed to acquire this key or find someone with access to the key willing to help.

I understand that the FBI seized the hacker's web site. Maybe the site stored the private keys. Or they may have traced the bitcoin payment being sent to an exchange to be traded for fiat currency so the exchange had control of the bitcoin.

11 posted on 06/12/2021 8:19:37 PM PDT by Database
[ Post Reply | Private Reply | To 3 | View Replies ]


To: Database

Bitcoin key sounds like hot potato.


13 posted on 06/12/2021 11:47:28 PM PDT by Norski (Pilate saith unto him, What is truth?)
[ Post Reply | Private Reply | To 11 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson