Summary:
- Arrests in Italy: Four individuals suspected of stealing $14 million in cryptocurrency from blockchain tech firm Holograph were arrested in Italy.
- Lavish Lifestyle: The suspects had been living in a luxury villa in Salerno, enjoying a lavish lifestyle following the heist.
- International Cooperation: The Italian authorities worked with the French National Police to track the suspects and gather evidence.
- Seized Items: Police seized private keys, codes, ledger keys, and electronic devices, which are now being examined for further evidence.
- Token Recovery: Following the arrests, HLG tokens saw a 28.3% rebound in value, though they remain below pre-hack levels.
In a major law enforcement operation, Italian authorities have arrested four individuals suspected of stealing $14 million worth of cryptocurrency from Holograph, a blockchain tech firm based in the Cayman Islands. The arrests were made in Salerno, where the suspects had been residing in a luxury villa, living lavishly in the weeks following the heist.
The heist, which targeted Holograph’s platform, initially saw the stolen tokens valued at $14 million, but their value plummeted by over 80% shortly after the incident. The Italian police, working closely with the French National Police, tracked the group of cybercriminals for several weeks, leading to their eventual capture.
During the operation, the police seized cryptocurrency wallet private keys, codes, ledger keys, and various electronic devices found in the possession of the cybercriminals. These items are now being examined for evidence to aid the ongoing investigations. It is expected that at least the remainder of the stolen funds will be returned to Holograph, now that the authorities have access to the crypto wallets containing the illicit proceeds.
Following the news of the arrests, Holograph’s HLG token experienced a significant rebound, with its value increasing by 28.3% in the last 24 hours and 59.4% over the past week. However, the token’s current value remains much lower than its pre-hack levels, reflecting the lingering impact of the security breach.
This case underscores the ongoing risks in the cryptocurrency sector and the need for robust security measures to protect digital assets from cybercriminals.
Disclaimer:
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