• 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The US prosecutors plan to return 80% of the 119,754 BTC withdrawn during the 2016 Bitfinex hack.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

South Africa Proposes New Crypto Regulations

chest

South Africa has released new draft regulatory proposals that could significantly change how residents interact with certain wealth holdings, including cryptocurrencies.

user avatarAisha Farooq

FOMC Meeting Scheduled for April 29, 2026, May Impact Crypto Market

chest

The Federal Open Market Committee (FOMC) is scheduled to meet on April 29, 2026, to review economic conditions and announce any changes to interest rates, which may impact the crypto market.

user avatarLi Weicheng

Coinbase's Faryad Shirzad Critiques BPI's AML Report

chest

Coinbase's Chief Policy Officer, Faryad Shirzad, critiques the Bank Policy Institute's AML report, arguing it misrepresents illicit crypto activity as a small percentage of total on-chain volume.

user avatarTenzin Dorje

BPI Advocates for Stricter AML Regulations for Cryptocurrencies

chest

The Bank Policy Institute (BPI) calls for stricter anti-money laundering (AML) regulations for cryptocurrencies in the US, highlighting their use in illicit activities and urging Congress to address legal imbalances.

user avatarBayarjavkhlan Ganbaatar

Metaplanet Secures $50 Million Loan to Purchase Bitcoin with Zero Interest

chest

Metaplanet has secured a $50 million loan to purchase Bitcoin without paying interest by issuing zero-coupon bonds.

user avatarMohamed Farouk

Bitcoin ETFs Show Strong Performance Amid Market Recovery

chest

US spot Bitcoin ETFs have recorded their best performance since the October market crash, with significant inflows indicating strong demand.

user avatarElias Mukuru

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.