The FBI wants to help to block funds from a Chinese platform, hosted in Dubai, which does not officiate on American territory. Since none of the victims should be American, the question arises: how is the FBI concerned? If the reinforcement of this elite police unit is a good thing, it raises legitimate questions.
Why is the FBI really interested in the Hack of Bybit?
After Bybit was the victim of a massive flight of $ 1.4 billion in Etherthe response is organized.
Ben Zhou, the CEO of Exchange, launched a site of ” premium hunters To identify the accomplices and try to recover the backgrounds. From now on, a weight player is added to this hunt: the Federal Bureau of Investigation (FBI).
The American Federal Agency published a press release calling on the players in the sector to unite their efforts to counter North Korean hackers.
This involvement may surprise, Bybit being a platform recorded in Dubai, led by a naturalized Chinese Singapourian, Chinese national, And having no operations in the United States. So why does the FBI mobilize?
The first reason is geopolitical: these computer attacks are suspected to finance the nuclear program of North Korea. The FBI, as an actor of American national security, cannot remain passive in the face of a threat of such magnitude.
Track down the stolen funds allows to hinder these financing circuits.
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As explained Sarah Companilawyer and cryptocurrency expert: ” There must necessarily be overlapping in their surveys and finding criminals can allow them to go back to much more sensitive things related to the plans of North Korea. »»
The second reason advanced is The protection of the crypto community. In its press release, the FBI affirms its commitment to fight against cybercrime and the theft of cryptocurrencies orchestrated by rogue states.
But beyond the discourse, this intervention also marks an underlying reality: The Federal Agency considers that the crypto ecosystem is, at least in part, of his jurisdiction.
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Investigation and repression: Crypto under the control of state agencies?
FBI involvement is a weight reinforcement For Bybit and companies affected by this type of attack.
Indeed, although the Crypto ecosystem has independent investigators such as Zachxbt or specialized companies such as elliptic to track down funds, these private actors do not have the means to perform coercive actions.
The FBI can perform searches, extradite suspects and forcing companies to collaborate, This considerably accelerates the surveys.
In addition, international cooperation between state agencies is essential: by diversifying the sources of information, It improves the speed and efficiency of investigations. “” Any form of interstate cooperation is a plus since you increase the speed of the investigation by diversifying the sources of information “Specifies Sarah Compani.
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Some may see in this case an argument in favor of a police ” decentralized “Dedicated to cybersecurity.
In reality, this public-private cooperation already exists: the blockchain surveillance tools work In close collaboration with the police authorities To update the data in real time. “” A decentralized force already exists for cross -border surveys. Public/private cooperation are also in place “, Underlines the expert.
Finally, the question of the jurisdiction of the blockchain does not arise here. It is not the decentralized nature of the blockchain that is involved, but the attack on a centralized platform. “” Here, it is an offense (hack) of a central platform. Rather, it is the traceability after the flight concerning the blockchain “, She specifies.
While waiting for the FBI and the other actors to arrest managers and recover part of the funds, this case underlines a reality: faced with international cybercrime, Cooperation between government agencies and private actors is more essential than ever.
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Source: FBI
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Cryptocurrency expert, Marc-Antoine began his trip to the web 3 alongside David Prinçay (current president of Binance France) in the French Cryptomonnaies club. Since then, it was by writing articles in the most famous crypto media in France that he spreads the good word. If you have read an article on the crypto, there is a good chance that you have read one of its articles. NFT, Blockchain, Web 3, DEFI, there is not a sector that is foreign to it. And do not ask him what is the next corner that you should buy: it is a maximalist bitcoin (yes, no one is perfect).
Marc-Antoine Caen Poletti
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