CandleFocus US government says 120,000 Bitcoin seized from 2016 hack should be returned to Bitfinex
2025-01-15
Author: Content Editor
A court has ruled that over 94,000 Bitcoin seized from the 2016 Bitfinex exchange hack should be returned to Bitfinex through "in-kind restitution." The value of the seized Bitcoin was $3.6 billion at the time of seizure, but it is now valued at approximately $9.3 billion. Bitfinex had previously received cash and Bitcoin Cash as part of recovery efforts, and concerns were raised when $20 million in seized crypto was moved from US government-controlled wallets. The defendants involved in the hack have pleaded guilty to money laundering charges, and law enforcement has recovered around $10 billion in stolen assets. The remaining seized assets will go through separate forfeiture proceedings.
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