Facts, not spin, on DOJ’s Bitcoin seizure of ransom paid to pipeline hackers

Facts, not spin, on DOJ’s Bitcoin seizure of ransom paid to pipeline hackers

[Ed. – My question is how smart these hackers can really be if they left their Bitcoin loot in a “custodial” account on a server in the U.S. where the FBI would have no trouble finding it and getting a court order for it.  Jordan Schachtel points out that the DOJ narrative seems designed to overhype the infrastructure threat that one company hadn’t prepared for, and the vague threat of Bitcoin as the currency of malfeasance.]

Top Department of Justice officials claimed to strike a major blow against the culprits of the Colonial Pipeline cyber ransomware attack Monday, announcing that they had seized almost all of the funds paid to the hacking group responsible for facilitating the hack.

[…]

In their triumphant statements this morning, the DOJ claimed to have seized the funds from the hackers …

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“There is no place beyond the reach of the FBI to conceal illicit funds that will prevent us from imposing risk and consequences upon malicious cyber actors,” FBI Deputy Director Paul Abbate said in a statement. …

Now, the DOJ does appear to have secured the funds, but not in the fashion that it is being advertised by federal officials and widely reported in the corporate press.

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