• 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

Charles Hoskinson Announces Departure from X, Digital Twin to Take Over

chest

Charles Hoskinson, the founder of Cardano, announces he will stop using X at the end of December 2025, with a digital twin taking over his account in January.

user avatarKaterina Papadopoulou

Mog Coin Gains Popularity with Community Engagement

chest

Mog Coin is gaining traction in the meme coin space with its community-driven approach and playful branding.

user avatarMaya Lundqvist

Trust Wallet Implements User Safety Measures Post-Breach

chest

Trust Wallet has introduced safety measures to protect users following the security breach.

user avatarLeo van der Veen

Technical Indicators Signal Trouble for XRP

chest

Technical indicators for XRP show bearish divergence and a significant drop in open interest, raising concerns about its market health.

user avatarLi Weicheng

Philippines Implements VASP Licensing for Cryptocurrency Exchanges.

chest

The Bangko Sentral ng Pilipinas has mandated that all cryptocurrency platforms must register locally to operate within the country, leading to the blocking of several unlicensed exchanges and reshaping the crypto landscape in the Philippines.

user avatarKenji Takahashi

Philippines Restricts Access to Major Crypto Exchanges Such as Coinbase and Gemini.

chest

The Philippines has begun blocking access to major cryptocurrency exchanges like Coinbase and Gemini due to lack of local licenses.

user avatarTenzin Dorje

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.