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

U.S. Court Orders Return of Seized Bitfinex Hack Funds to Victims

user avatar

by Giorgi Kostiuk

a year ago


In 2016, a hack saw funds stolen from the Bitfinex crypto exchange. Recently, a U.S. court ordered these funds to be returned to their rightful owners.

Court Ruling on Fund Return

A U.S. court has ordered the return of the funds seized after the hack of the Bitfinex crypto exchange in 2016 to their rightful owners. The value of the assets seized during the operation has increased by 16,618.31% to $11.97 billion from $72 million at the time of the hack. The victims of the hack are set to receive reimbursement 'in-kind'. The court also mandated the government to notify all affected parties and post a link on the Department of Justice website that directs to the case's specific site where all the vital information will be relayed.

Investigations and Arrests Related to the Hack

In connection with the 2016 Bitfinex hack, two individuals, Ilya Lichtenstein and Heather Rhiannon Morgan, were arrested and charged with conspiracy to commit money laundering and fraud against the United States. Lichtenstein was sentenced to five years in prison, while his accomplice and wife, Morgan, received an 18-month sentence for aiding her husband in laundering the stolen funds.

Incident with Wallet Compromise

In October last year, there was an incident involving a suspicious transfer of $20 million in digital assets, which were moved from a government-controlled wallet. The funds were temporarily transferred to new wallets and used for numerous transactions, giving the appearance of an attempt to conceal the source of funds.

The story of the return of funds after the Bitfinex hack and subsequent events clearly demonstrate the complexity and multifaceted nature of work in the cryptocurrency field, highlighting the importance of transparency and justice in financial matters.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Cysic Faces Scrutiny Over Token Manipulation and Financial Discrepancies

chest

Cysic's token generation event (TGE) is under investigation due to allegations of token manipulation and significant financial discrepancies.

user avatarMaya Lundqvist

Hedera's Growing Adoption Among Financial Institutions and Governments

chest

Hedera is witnessing significant adoption from financial institutions and governments for various applications, including payments, stablecoins, and asset tokenization.

user avatarLeo van der Veen

Orchard Protocol and Rising Metrics Boost Zcash Adoption

chest

The Zcash ecosystem is witnessing a boost in adoption due to initiatives like the Orchard protocol and rising Twitter metrics.

user avatarElias Mukuru

Charlie Noyes Steps Down from Paradigm to Focus on Kalshi

chest

Charlie Noyes has stepped down from his role as General Partner at Paradigm to focus on his position as a board observer at Kalshi.

user avatarLi Weicheng

No Evidence Found for Wall Street Revolution Event in Crypto Sector

chest

No evidence supports the existence of the Wall Street Revolution event involving key figures in the crypto sector.

user avatarAisha Farooq

Altcoins Show Signs of Resilience Despite Market Weakness

chest

Altcoins show signs of resilience as the TOTAL3 chart indicates a significant support level, suggesting potential for a future rally.

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.