Huobi will return part of the crypto assets stolen by scammers to Coinbase users – Bits Media

According to the court decision, Huobi Global will return to the investor the stolen goods. 10.2 BTC. Coins were transferred to Huobi by scammers and subsequently frozen.

US District Court Judge for the Central District of California Dolly M. Gee (Dolly M. Gee) 
approved a warrant for the recovery of bitcoins in the amount of more 600 000 dollars (about 10.2 BTC) from Huobi Global wallet. Warrant Orders Huobi Global to Freeze Wallet, containing about $600 000 in bitcoins. The money belongs to the Coinbase user, from whom scammers stole bitcoins in the amount of $11.6 millions. In this way, the victim will receive back about 5% stolen.

During the investigation, it turned out, what is the amount, hosted on the Huobi Global wallet, was part of the money, stolen by scammers from a Coinbase user. The Director of Public Affairs for the US Attorney's Office in Los Angeles said, that the cryptocurrency exchange agreed to help the court in the return of crypto assets.

“Huobi has agreed to keep BTC frozen until a refund request is received.”.

The court revealed the details of the pending case of cryptocurrency fraud. Immediately after purchase 200 BTC user Coinbase received a notification that, that his account is blocked. The scammers asked to contact the platform's support service by phone.. The user contacted the scammers by phone, and counting, which follows the instructions of the exchange support service, unintentionally provided remote access to your account. As a result, the scammers stole 200 BTC and an undisclosed amount of XLM from the user's wallet. The Court notes, what remains unclear, how the fraudster found out the user’s transaction data, to use this information for a cyber attack. Coinbase has not yet commented on the court's statement..

Law enforcement and cybersecurity companies use solutions, which help detect stolen funds and return them to their owners. Cybersecurity group Lossless recently returned stolen assets to DeFi Cream Finance. The authorities have a wide arsenal of tools to recover stolen money. Australian legislators even drafted a law, which will allow authorized authorities to seize cryptocurrencies or freeze cryptocurrency deposits, related to cybercrime. At the same time, legislation on the seizure of cryptocurrencies. obtained illegally, still requires improvement and leads to oddities. In August, Swedish police returned $1.5 million worth of bitcoins to a drug dealer., since the price of seized crypto assets exceeded the value of illegally obtained funds.