Cryptocurrency Q&A
How much was the US Department of Justice's bitcoin hack worth?
How much was the US Department of Justice's bitcoin hack worth?
CryptoVanguard
Fri Jul 05 2024
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7 answers
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As a finance and cryptocurrency practitioner, I'm curious to know the magnitude of the recent bitcoin hack involving the US Department of Justice. Could you elaborate on the estimated value of the stolen bitcoins? Given the volatile nature of cryptocurrencies, I'm interested in understanding the potential financial impact this hack may have had, not only on the DOJ but also on the broader cryptocurrency market. The details surrounding the hack and its aftermath are highly significant, as they often shed light on vulnerabilities and challenges in the field of digital currencies and financial technology.
7 answers
noah_stokes_photographer
Sat Jul 06 2024
During this hack, the Bitcoins' value was significantly lower, estimated at around $71 million.
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Nicola
Sat Jul 06 2024
In February 2022, the apprehension of a colossal stash of 119,000 Bitcoins marked a significant milestone.
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BitcoinBaronGuard
Sat Jul 06 2024
However, their subsequent appreciation in value underscored the volatile nature of cryptocurrency markets.
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StarlitFantasy
Sat Jul 06 2024
The value of these Bitcoins, at the time of their seizure, stood at approximately $4.5 billion.
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Rosalia
Sat Jul 06 2024
The seizure of such a vast amount of Bitcoins not only represents a triumph for law enforcement but also serves as a warning to those involved in illicit cryptocurrency activities.
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