Changpeng Zhao Says It's Easier to Track Crypto Than Fiat

Changpeng Zhao Highlights the Traceability of Cryptocurrency

CZ's tweet came after the U.S. Department of Justice (DOJ) announced the seizure of 94,636 bitcoins directly linked to the 2016 hack of the cryptocurrency exchange Bitfinex. This is the DOJ’s “largest cryptocurrency seizure to date.” Moreover, two people have been arrested in connection with the hack of the cryptocurrency exchange and the subsequent theft. The latest tweet from the Binance CEO is in contrast to an earlier blog post written by Changpeng Zhao last year in July where he accepted that there were issues with his crypto exchange. However, he had said back then that they were part of the exchange's growth.

U.S. Federal Officials Seize Bitfinex's Stolen Bitcoins from 2016

The Department of Justice (DOJ) announced on Tuesday that the U.S. government had seized stolen cryptocurrency, which were directly linked to the 2016 hack of the cryptocurrency exchange Bitfinex. According to the announcement, this is the DOJ’s “largest cryptocurrency seizure to date, valued at more than $3.6 billion” at the time of the seizure. At the time of writing, the value of the BTC seized is more than $4 billion.

While the news is certainly a sigh of relief for crypto investors, crypto hacks and scams have become way more common in the last few years. This has given enforcement agencies around the world a tough time who are often left clueless due to the lack of means to track these hacks and put the perpetrators of such crimes to justice.