Sony Helped by FBI in Retrieving Stolen Bitcoin

The United States Department of Justice announced today the filing of a civil forfeit complaint to retrieve $150 million in embezzled Bitcoin stolen from Sony back in May of this year.

“The United States took action in a federal court today to protect and ultimately return more than $154 million in funds that were allegedly stolen from a subsidiary of Tokyo-based Sony Group Corporation and then seized by law enforcement during the FBI’s investigation of the theft,” the Justice Department said in a statement.

A former employee of Sony apparently stole the funds in May 2021, exchanging the stolen currency for 3,800 Bitcoin (worth over $180 million today).

“Those funds were seized by law enforcement on December 1, 2021, based on the FBI’s investigation,” the Justice Department added.

The employee has been revealed to be Rei Ishii by the Justice Department, a former worker at Sony Life Insurance Company Ltd, a Sony Group subsidiary in Japan.

According to official documents, Ishii stole the funds during an attempted transfer between the companies accounts.

Claims made against Ishii suggest he falsified transactions, allowing the funds to be diverted from a company-controlled account to the one Ishii had made with a bank in California. Then, Ishii converted the funds to Bitcoin. The civil forfeiture complaint was filed in California to protect Sony’s funds.

Sony and Citibank aided in the investigation both firms, “immediately contacted and cooperated with law enforcement as soon as the theft was detected,” said FBI Special Agent in Charge Suzanne Turner.

“You cannot rely on cryptocurrency to hide your ill-gotten gains from law enforcement. The United States coordinates extensively with its international partners to forestall crime and retrieve stolen funds,” Grossman added.

A haunting thought to hackers around the world, especially as law enforcement gains more knowledge into how cybercrimes operate and gain help from former hackers, named whitehats.