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The US prosecutors plan to return 80% of the 119,754 BTC withdrawn during the 2016 Bitfinex hack.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

Senator Thom Tillis Central to CLARITY Act Negotiations

chest

Senator Thom Tillis is emerging as a key figure in the negotiations surrounding the CLARITY Act, particularly regarding stablecoin yield and reward programs.

user avatarKofi Adjeman

Bitcoin ETFs Experience Significant Outflows Amid Energy Shock

chest

Bitcoin ETFs recorded a net outflow of approximately 1.392 million on March 5, reflecting a rapid shift toward risk aversion among institutional investors.

user avatarNguyen Van Long

Over 10,000 Bitcoin Vulnerable to Quantum Attacks

chest

A report reveals that more than 10,000 Bitcoin are at risk from potential quantum computing attacks.

user avatarSatoshi Nakamura

Bitcoin Developers Consider Quantum-Resistant Solutions

chest

Bitcoin developers are debating solutions to protect against quantum computing threats, including a potential hard fork for post-quantum cryptography.

user avatarJesper Sørensen

PsiQuantum Constructs World's First Commercial Quantum Computer

chest

PsiQuantum is building a groundbreaking quantum computer in Chicago, capable of running 1 million qubits.

user avatarRajesh Kumar

Binance's TradFi Perpetual Futures Market Sees Explosive Growth

chest

Binance's TradFi perpetual futures market has seen explosive growth, surpassing 130 billion in cumulative trading volume and reflecting strong demand for continuous exposure to traditional assets.

user avatarFilippo Romano

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.