CNBC Special: Crocodile Of Wall Street & The Battle Over Billions In Stolen Bitcoin 11/11/22

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CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 12 November 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

CNBC takes you inside one of the largest crypto currency heists in history and delivers a revealing look at the investigation to recover $3.6 billion dollars in bitcoin. Hosted by Eamon Javers.

Transcript

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0:00.0	On the morning of August 2nd, 2016, Bitcoin investors woke up to news of a shocking digital
0:07.1	heist.
0:08.1	Breaking overnight, nearly 100,000 Bitcoins have been stolen from Exchange Platform Bitfinx.
0:13.6	I logged into my account and noticed that my entire account had been drained.
0:19.3	I was crying and sweating.
0:21.0	The word started spreading on social media quickly.
0:23.9	Everyone was freaking out.
0:25.3	It was gut-branching.
0:26.5	I had a panic attack.
0:28.4	As panic grew, Bitcoin prices plummeted.
0:31.2	And BitFinex, one of the largest cryptocurrency exchanges in the world, halted trading.
0:36.1	The price of Bitcoin dropped nearly 20% bringing down the value of the stolen Bitcoins to
0:40.9	about $65 million.
0:43.9	And suddenly, thousands of people around the world have the same burning questions.
0:48.4	Who pulled off this high-tech heist?
0:50.8	And how would the victims ever get their money back?
0:53.8	At first, the only clues were on the blockchain, and crypto detectives began following the stolen
0:58.9	assets, spotting them in a wallet address, they say begins with the digits 1CG.
1:05.1	We saw this, the 120,000 BitFewins taken from BitFenex and put in this Bitcoin wallet.
1:11.6	It's a little bit like you're robbing a bank in the middle of a stadium full of spectators.
1:15.6	Thousands of people are watching.
1:16.6	That's exactly what it is.
	...

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