• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Return to Bitfinex: US Court Confirms Restitution

user avatar

by Giorgi Kostiuk

a year ago


The U.S. government announced that over 94,000 bitcoins, stolen in the 2016 Bitfinex hack, are to be returned to the exchange, as confirmed by a recent court filing.

Details of the Court Case

A filing submitted to the U.S. District Court for the District of Columbia confirmed that Bitfinex was the sole victim of the theft. This follows plea agreements with Ilya Lichtenstein and Heather Morgan, who admitted to conspiring to launder 119,754 bitcoins.

History of Bitcoin Theft and Laundering

The 2016 hack involved the theft of 120,000 bitcoins, now valued at over $12 billion. Lichtenstein and his wife, Heather Morgan, also known as the rap artist “Razzlekhan,” laundered the stolen funds using crypto mixers, complex transactions, darknet markets, and other techniques. The pair were arrested in 2022, and authorities seized bitcoins valued at nearly $4 billion — marking the Department of Justice's largest asset seizure.

Bitfinex's Reaction and Plans for Returned Funds

Bitfinex had previously announced plans to use 80% of any recovered funds to buy back and burn UNUS SED LEO tokens over an 18-month period to reduce the number of tokens in circulation. These actions followed the token's issuance to mitigate customer losses from the hack.

The U.S. government emphasized the importance of ensuring restitution and confirmed the absence of other claimants for compensation.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

KuCoin Achieves MiCA License in Austria, Expanding EU Operations

chest

KuCoin has obtained a Markets in CryptoAssets (MiCA) license in Austria, allowing it to operate across 29 EEA countries.

user avatarMohamed Farouk

Stellar XLM Faces Key Support Level Amid Market Volatility

chest

Stellar XLM is trading within a descending triangle pattern, indicating potential for a rebound if key support levels hold.

user avatarElias Mukuru

LBank Introduces Airdrops and Zero-Fee Trading to Enhance User Experience

chest

In November 2025, LBank launched airdrops, earnings products, and zero-fee trading to strengthen user incentives and asset appreciation tools.

user avatarDiego Alvarez

Ukraine Initiates Development of Large Language Model with Google's Technology

chest

Ukraine is developing a large language model using Google's technology to better understand local dialects and minority languages.

user avatarKenji Takahashi

Early Bitcoin Miner Moves 50 BTC After 15 Years of Dormancy

chest

An early Bitcoin miner has activated a dormant wallet, moving 50 BTC worth approximately $433 million, raising questions about the implications for the cryptocurrency market.

user avatarMaria Fernandez

SAILr Token Sale Launches, Connecting Crypto Investors to Amazon Revenue

chest

The SAILr token sale allows investors to earn a share of Amazon's sales revenue through a unique cryptocurrency model.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.