Coinbase Rejects any Reports of Involvement in BTC Ransom Seizure of DOJ

According to the latest reports, there are rumors suggesting that Coinbase had something to do with the recent hack attempt involving ransomware. By now, the rumors have gained enough wind that they have found themselves reaching to the Coinbase higher-ups.

Following the recent rumors surrounding Coinbase, the Chief Security Officer (CSO) of Coinbase has shared a statement denying such rumors. He has completely refuted any claims pertaining to the exchange’s involvement in the recent ransomware.

The ransomware in question here is the one that took place as a result of the cyberattack the hackers attempted on the Colonial Pipeline Company. As a result, the Colonial Pipeline revealed they had to pay up $5 million in ransom to take the control back of the facility.

It has been rumored that the ransomware money is currently present at Coinbase. This means that Coinbase has somehow, aided the cyberattack by providing a platform where the hackers could get the funds transferred.

Philip Martin is the Chief Security Officer (CSO) at Coinbase, who took it upon himself to clear out any unclear area surrounding Coinbase’s involved in the matter. He completed denied the exchange’s involvement in the matter through his Twitter posts on Tuesday, June 8.

He clarified that their exchange has no involvement in the matter and they have received no such warrant from the Department of Justice (DOJ). Nowhere throughout the matter, Coinbase had any involvement in the ransomware.

He clarified that they have gone through their data and could find no evidence or wallet/account, involved in the ransomware.

He stated that he has been reading a bunch of garbage, where it is being claimed that Coinbase received a warrant from the DOJ. There was no warrant sent to them from the Department of Justice (DOJ) for the seizure of Bitcoin (BTC).

Currently, there are rumors rotating the news where it is being claimed that the Department of Justice (DOJ) has recovered a certain number of BTC. The rumors suggest that the DOJ managed to recover 63.7 Bitcoin (BTC), which at the time of writing translate to around $2.3 million.

However, the rumors have a number of irregularities that give away the true nature of such claims. There are rumors where the federal investigators have made several claims in regards to the hack attempt.

The rumors suggest that the investigators were able to get their hands on the private keys belonging to the DarkSide group. DarkSide is the hacker group from Russia that is responsible for the recent cyberattack on the Colonial Pipeline Company.

While the rumors suggest that the federal investigators got their hands on the keys, they did not reveal how they were able to make it happen in the first place.