(BlockBar) According to Israeli news agency Posta, the Israeli authorities recently arrested two brothers suspected of involvement in cryptocurrency-related phishing schemes, through which they successfully “earned” millions of dollars. Although some news media reported that the brothers’ income from stealing cryptocurrencies was as high as $100 million, Israeli police revealed that the actual figures were around “tens of millions of dollars”.
The arrested Israeli Eli Gigi and his younger brother Assaf Gigi created the same websites as legitimate cryptocurrency services and businesses (including exchanges) and then they lured users to attempt to log in through these sites. They grouped a link to a so-called encrypted trading website on Telegram. By mimicking the legitimate wallets, it’s hard for investor to notice the trick and surrender their private information easily. So, brothers use these details to gain access and transfer encrypted assets to their own accounts. The Israeli news media reported that they were related to the 2016 Bitfinex hacking attack, in which about 120,000 bitcoins (worth more than $70 million) were stolen from the exchange.
One of the brothers, Eli, has a high level of skill as a recruit for the former IDF force, which specializes in young people with the top academic results.
The authorities added that the case is being investigated in the “cyber police department of several countries” and it is not clear whether the brothers have complicity. It is said that the goal of multinational action is to help recover stolen funds.
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