Bitfinex recovered part of the funds lost in 2016 hack
Bitfinex recovered part of the funds lost in 2016 hack
Cryptocurrency exchange Bitfinex said it has recovered $312,000 in cash and $2,000 worth of bitcoin cash stolen from it in 2016.
The U.S. Department of Homeland Security played a key role in recovering the assets, directly handling the seizure and transfer of the funds, and bringing the perpetrators to justice.
According to The Block, Bitfinex intends to distribute the recovered assets pro rata to the holders of Recovery Right Tokens (RRTs), which were issued in response to the 2016 hack.
RRTs were issued to Bitfinex clients affected by the 2016 hack. RRTs can be exchanged at a ratio of 1:1 for every $1 of recovered funds. It's worth noting that approximately 30 million RRTs remain in circulation.
"We are extremely pleased to be able to reach another successful milestone in the recovery of assets stolen from Bitfinex in 2016," said Paolo Ardoino, Bitfinex Chief Technology Officer.
In August 2016, despite BitGo's multi-layered security system, the Bitfinex exchange was hacked, resulting in the theft of 119,756 BTC. In February 2022, the U.S. government was able to recover approximately 94,000 BTC worth $3.6 billion.
As a reminder, Bitfinex launched a P2P platform in Latin America, targeting residents of Argentina, Colombia, and Venezuela.
