Bitfinex Recovers $312K in Stolen Assets from 2016 Bitcoin Hack

• Bitfinex has announced that it has recovered some of the stolen assets from the 2016 Bitcoin hack.
• The exchange stated in a press release that it had received the assets in question from the United States Department of Homeland Security.
• US authorities had seized control of the funds after arresting two individuals for their involvement with the Bitfinex hack.

Bitfinex Announces Recovery Of Stolen Assets From 2016 Hack

Bitfinex, one of the world’s leading crypto exchanges, has announced that it has managed to recover some of the assets stolen during its 2016 Bitcoin hack. The exchange revealed in a press release that these assets were returned by the United States Department of Homeland Security (DHS).

Assets Recovered

Bitfinex revealed that it had recovered $312,219 in cash and 6.9 in Bitcoin Cash (BCH) worth around $1951 at today’s prices. The DHS seized control of these funds after arresting two individuals who are believed to be linked to the breach.

Progress In Prosecution Of Hackers

The exchange also stated that progress is being made in prosecuting those responsible for carrying out this attack on its system. The United States Customs and Border Protection agency conducted this seizure and return of assets to Bitfinex. Paolo Ardoino, Chief Technology Officer at Bitfinex, thanked law enforcement officials for their diligence and commitment to tracking down all proceeds associated with this crime.

Overview Of Bitfinex Hack

In 2016 hackers managed to steal 119,756 Bitcoin (BTC) from Bitfinex which was worth around $71 million at the time but valued at around $3.6 billion at current prices. For years they attempted to launder these funds without success until US authorities arrested Ilya Lichtenstein and Heather Morgan – a married couple from New York – in 2022 for their involvement with this crime against Bitfinex.

Redistribution Of Stolen Assets To Customers

Now that some of these stolen assets have been returned by US government agencies, Bitfinex is looking forward to recovering as much BTC as possible and redistributing them back to customers affected by this breach almost seven years ago.