Bitfinex, a prominent cryptocurrency exchange, has announced the recovery of approximately $315,000 in cash and cryptocurrencies, originating from the monumental 2016 hack. This update marks a significant milestone in Bitfinex’s ongoing efforts to recuperate from the massive security breach.
Back in August 2016, Bitfinex was targeted in one of the most extensive hacking incidents in the history of cryptocurrency. The assailants made away with about 119,756 bitcoins, a theft valued at roughly $72 million at that time.
Fast forward to 2022, and the value of the stolen Bitcoins had ballooned to a staggering $3.6 billion, thanks to the impressive appreciation of Bitcoin. In a triumphant turn of events, the US government managed to seize and recover a portion of these stolen assets earlier this year.
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In a statement issued last Thursday, Bitfinex confirmed that the recovered sum of $315,000 was seized by the US Department of Homeland Security. These funds are part of the ongoing prosecution case against the individuals implicated in the 2016 hack.
The Department of Justice (DOJ) has apprehended Ilya Lichtenstein and Heather Morgan, who were allegedly using the illicit funds to fund a lavish lifestyle, purchasing extravagant items such as gold and non-fungible tokens (NFTs). Bitfinex has assured that the retrieved funds will be redistributed to holders of Bitfinex Recovery Right Tokens.
