Despite rumours, the Bitcoin blockchain was not hacked by the FBI, just an online wallet. In the last few hours, a new wave of panic has gripped the cryptocurrency world. This after the FBI managed to recover bitcoins stolen during the Colonial Pipeline ransomware.
This led many users to believe that the US government may have hacked the BTC blockchain, making it insecure. However, as Tyler Winklevoss explains in today's tweet, Bitcoin was not hacked by the FBI.
Can the FBI hack Bitcoin?
One of the biggest news stories in recent weeks has been the ransomware attack on the Colonial Pipeline, an oil pipeline that supplies much of the east coast of the United States. The hackers blocked the operation of the pipeline until the managing company paid a ransom of around 75 BTC to the cybercriminals.
However, a few days ago, the FBI announced to the public that during a computer operation, it had been able to recover 64 of the BTC paid by the Colonial Pipeline ransomware. This equates to the recovery of around $2.3 million. Many users in the cryptocurrency world immediately wondered whether the US agency had managed to breach the security of the Bitcoin blockchain.
Of course, it was quickly clarified that the FBI had only broken the security of the wallet in which the cybercriminals had stored their money. They made the mistake of using an easily traceable online wallet instead of a cold one. This didn't stop panic from gripping many users, who began selling in disarray, leading Tyler Winklevoss to post a tweet in an attempt to clarify the situation:
"Bitcoin was not hacked by the FBI. This confusion has created a great buying opportunity."
Of course, Tyler is right to point out that cryptocurrency users can buy Bitcoin cheaply thanks to the panic generated by the FBI's operation. The truth is, if the US agency was able to get into the wallet where the cybercriminals stored their loot so easily. This calls into question the security of the entire infrastructure built around the cryptocurrency market.
