DOJ Seizes $3.6B In Crypto From 2016 Bitfinex Hack – February 9

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $44,152

Bitcoin price continues to creep upward over the last 24 hours, with price now sitting above the $44,000 level.

Top-20 altcoins have performed well, as Ethereum gains 5%, XRP surges 10% and Shiba Inu leads with a 12% rise.

Top Stories for February 9, 2022 πŸ”₯

πŸ‘‰ DOJ Seizes $3.6B In Crypto From 2016 Bitfinex Hack

The US Department of Justice has seized over $3.6 billion worth of crypto that was stolen in the 2016 Bitfinex exchange hack, also arresting a New York couple linked to the crime.

Ilya Lichtenstein and Heather Morgan were arrested for attempting to launder 119,754 Bitcoins from the infamous hack. Authorities managed to access the private keys of the funds via an online account belonging to Lichtenstein, granting them access to 94,000 BTC.

2,000 different sets of crypto public and private keys were found in the cloud storage account, most of which were linked to the stolen coins.

πŸ‘‰ Russia Drafts Law To Recognize Crypto As Currency

Local reports from Russia claim that the government and the Bank of Russia are preparing a draft law which will define cryptocurrency as “an analogue of currencies”.

The new definition will remove crypto from under the umbrella of digital financial assets, but still only allow crypto to be used in the legal sector, through the banking system, or through licensed intermediaries.

Crypto may still be difficult to use otherwise, with the Bank of Russia calling for a blanket ban on crypto just weeks ago.

πŸ‘‰ Bitcoin Has A Current “Fair Value” Of $38,000, According To JPMorgan

JPMorgan strategists have estimated Bitcoin’s “fair value” to be around $38,000, according to the banks most recent investor note published this week.

The value is partially based on Bitcoin’s volatility being almost four times that of gold, with a higher fair price possible should volatility decrease. Long-term targets from the same strategists are still placed at around $150,000.