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Compass News – 11 July 2025
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| 01:00:48
Cayman Compass
Cyber cops trace $14M stolen from Cayman victim in ‘inside job’ crypto heist
More than US$14 million of crypto tokens stolen from a Cayman Islands company have been identified and traced by financial investigators.
Evidence points to the hack being an ‘inside job’ executed by a disgruntled former contractor of the Cayman-based Holograph Foundation, investigators said.
The suspect, a Ukrainian national, was one of two people, both aged 30, who were arrested in Italy last year. The pair have been extradited to France, where the suspect is a resident and from where the alleged hack was carried out. The French criminal prosecution continues with the suspects due to face trial later this year
The Cayman Islands Bureau of Financial Investigation, meanwhile, has traced and restored a large proportion of the funds to the victim company. The digital tokens were valued at US$14.4 million at the time of the hack last year. However, the value of the tokens plummeted following news of the crime.
