Razzlekahn Part 1: Establishing Some Background.
If you haven’t seen my introduction to this case, please take few minutes and check out Untangling the Razzlekahn Conspiracy: An OSINT Perspective.
Establishing Some Background:
The first step in any investigation is establish some background. At the time Dutch and Heather were arrested, I’d never heard of Bitfinex let alone that the exchange was hacked in 2016.
A quick Google search and I found a Yahoo Finance article by cryptocurrency journalist Amy Castor. The article provides a short timeline leading up to the hack, and provides a high-level overview of the major players in Bitfinex.
I took the key entities from the article and created a network diagram using Maltego Community Edition. While the intent of this article is to provide background to the investigation, if you are interested in using Maltego, you’ll find my step-by-step instructions here: Part 1, Part 2.
To summarize the background of the case, Phil Potter, Giancarlo Devasini, Jan Ludovicus van der Velde incorporated Bitfinex in Hong Kong in 2013. In June of 2016, Bitfinex moved its Bitcoin into wallets protected by a company called BitGo. In August 2016, approximately 120,000 Bitcoin were illegally and anonymously transferred out of Bitfinex wallets.
It is impossible to look into the Bitfinex theft and not notice how suspicious the whole affair was. I will likely need to come back and flesh out more of the Bitifex heist, but for now, I’m just looking for a baseline. As interesting as the Bitfinex heist is, Dutch and Heather are the first to be formally linked it; though, they are only accused of laundering the coin, not stealing it. My thought is that as we work backward from Dutch and Heather, we’ll start to see some of the baseline players in Bitfinex show up. We can focus on those later as the connections emerge.
You can watch the video below for a summary and discussion of the network chart.
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