HOW CRYPTO ASSETS FORENSICS TRACED AND CHARGED BACK $32 MILLION WORTH OF LOST BITCOIN INVESTMENTS
HOW CRYPTO ASSETS FORENSICS TRACED AND CHARGED BACK $32 MILLION WORTH OF LOST BITCOIN INVESTMENTS A common misperception is that lost or stolen bitcoin is gone forever and cannot be recovered. This is a very wrong idea and in fact bitcoin, ethereum and other crypto assets can be traced and charged back. As blockchain forensics continues to evolve, identifying, tracing and recovering hidden or lost crypto assets may have already become easier than traditional asset recovery (Bank Accounts Recovery). A court order signed by a U.S. federal bankruptcy judge last month in the Northern District of California granted relief to the liquidators of a three-year old USD 32 million cybertheft. The assets stolen from U.K.-based crypto exchange Dooga — then registered as Cubits — were tracked and traced through a forensics technology company to wallets stored in two U.S.-based cryptocurrency exchanges. “Cubits opened accounts for [those] who turned out to be the wrongdoers,” Kobre & Kim l