Bitfinex Refunds $314,000 Seized by US in 2016 Hack, Continues to Return Victims

In an announcement on July 6, exchange Bitfinex The cryptocurrency said it received $312,219.71 in cash and $6.917 in Bitcoin Cash from the US Department of Homeland Security, the seizure of which was conducted in collaboration with the US Customs and Border Protection. According to Bitfinex officials

“This is part of Bitfinex’s ongoing efforts, working with law enforcement and other investigative agencies, to recover assets stolen from the exchange in August 2016, which the US government continues to advance. to prosecute individuals involved in the breach of Bitfinex’s security and to seize the funds involved.”

Following this, the assets will be returned pro-rata to victims of the 2016 Bitfinex hack, shortly after the security breach Bitfinex issued a Recovery Rights Token (RRT) at a par value of $1. This has 30 million RRTs in circulation. After redemption of RRT with recovered assets The remainder will be paid to holders of the Unus Sed Leo token, Bitfinex’s native token.

In 2016, Bitfinex suffered a security breach that resulted in the disappearance of 119,576 customer Bitcoins, worth roughly $70 million at the time and $3.7 billion now. And on February 8, 2022, the US Department of Justice Two individuals, Ilya Lichtenstein and his wife, Heather Morgan, can be arrested for conspiring to launder digital money in connection with hacking. And special agents were able to seize over 94,000 BTC stolen from Morgan and Lichtenstein after obtaining a search warrant that allowed them to view files containing private keys in wallets owned by the suspects. Efforts to recover capital continue.

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