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

Prosecutors Return 80% of Stolen BTC to Bitfinex

user avatar

by Giorgi Kostiuk

a year ago

The US prosecutors plan to return 80% of the 119,754 BTC withdrawn during the 2016 Bitfinex hack. This marks a major step in fund recovery.

Significant Restitution for Bitfinex

Prosecutors noted that Bitfinex is the main victim, which simplifies the restitution process. This aligns with US laws that allow returning stolen assets to victims.

Challenges With Remaining Funds

While a substantial portion of Bitcoin is set for return, challenges arise with the remaining 25,000 BTC. These funds are partially laundered through various platforms, complicating their recovery.

Legal Consequences for Hackers

Lichtenstein and Morgan, organizers of the theft of nearly 120,000 BTC, were apprehended in 2022. Lichtenstein pleaded guilty and received a five-year sentence, while Morgan, also known as RazzleKhan, received 18 months.

This fund recovery operation underscores authorities' commitment to tackling cybercrimes in the crypto sector. Further updates on the seizure process for the remaining funds are expected.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Whale Selling Intensifies Downtrend for PepeCoin (PEPE)

chest

Whale selling intensifies downtrend for PepeCoin (PEPE) as large holders exit, raising concerns about price stability.

user avatarLuis Flores

Bitcoin's Hashrate Sees Significant Decline, Impacting Miners

chest

Bitcoin's network hashrate has reportedly declined by 12% since November 11, marking the largest drop since October 2021, raising concerns among miners and impacting operations for major mining pools.

user avatarArif Mukhtar

Lido Finance Unveils V3 with Customizable stVaults on Ethereum Mainnet

chest

Lido Finance has launched its V3 upgrade on the Ethereum mainnet, introducing customizable stVaults for institutional investors and developers.

user avatarMaria Gutierrez

JPMorgan Chase Launches Stablecoin Amid Dollar Concerns

chest

JPMorgan Chase has launched a stablecoin pegged to the US dollar, addressing concerns about the dollar and embracing blockchain technology.

user avatarDavid Robinson

IRS Overhaul Draws Parallels with Past Transitions

chest

The recent leadership overhaul at the IRS, led by CEO Frank Bisignano, draws parallels with past transitions, indicating potential changes in tax compliance strategies.

user avatarAndrew Smith

IRS CEO Frank Bisignano Implements Leadership Changes Ahead of 2026 Tax Season

chest

Frank Bisignano, the newly appointed CEO of the IRS, has announced significant leadership changes, including the retirement of Guy Ficco and the promotion of Gary Shapley, in preparation for the 2026 tax season.

user avatarZainab Kamara

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.