• Bitfinex announced that it had recovered some of the assets taken during the 2016 Bitcoin hack.
• The United States Department of Homeland Security returned $312,219 in cash and 6.9 in Bitcoin Cash (BCH) to the exchange.
• US authorities arrested two individuals in connection with the breach and are still prosecuting them for their involvement.
Bitfinex Announces Recovery of Assets from 2016 Hack
Crypto Exchange Bitfinex has announced that it has recovered some of the stolen assets from the 2016 Bitcoin hack but stated that a considerable number of assets are still yet to be recovered.
Assets Returned by U.S Department of Homeland Security
The exchange stated in a press release that it had received the assets in question from the United States Department of Homeland Security. According to the announcement, the exchange revealed that it had managed to recover $312,219 in cash and 6.9 in Bitcoin Cash (BCH) worth around $1951 at today’s prices. The US Customs and Border Protection agency conducted the seizure of these recovered assets which is part of the law enforcement agency for DHS.
Paolo Ardoino Thanks Authorities for Their Commitment
Paolo Ardoino, Chief Technology Officer at Bitfinex thanked law enforcement officials saying “We are extremely pleased to be able to reach another successful milestone in the recovery of assets stolen from Bitfinex in 2016.” He also expressed his anticipation for recovering as much as possible and redistributing those tokens back to affected parties since 2016 when this hack occurred .
Details About The Bitfinex Hack
The Bitfinex hack was one of largest crypto hacks at that time where hackers managed to steal 119,756 BTC worth around $71 million then but currently valued at $3 billion dollar . Ilya Lichtenstein and Heather Morgan were arrested after US authorities tracked down these funds which led their arrest due to their involvement with this particular breach .
Conclusion
Bitfinex is working with law enforcement agencies to recover all stolen funds since 2016 while thanking them for their commitment towards retrieving these funds back for customers . This incident highlights how important having security measures within crypto exchanges have become since such large hacks can occur without proper protocols being put into place .