U.K. Court Orders Bitfinex to Freeze $860,000 Worth of Bitcoin

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Avatar for MalikMudassar
4 years ago
  • The cryptocurrency exchange Bitfinex has been ordered by a U.K. court to freeze $860.000 worth of Bitcoin that has been traced to a ransomware payment by the blockchain investigation firm Chainalysis; The victim of the attack originally paid $950.000 in BTC to the perpetrator through an insurance company; Some of the funds were converted to cash but the remainder was deposited in the account on Bitfinex. The insurer used Chainalysiss software to investigate the ransomware payments and then had their lawyers successfully petition for a freeze of these funds. The court also ordered Bitfinex to share its know your customer (KYC) information about the accounts owner

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