In January 2025, a U.S. federal court ruled that 94,643 of the 119,754 bitcoins stolen in the 2016 Bitfinex exchange hack must be returned to the exchange. The Department of Justice managed to take control of these bitcoins, which were worth around $72 million before the hack. The remaining stolen coins are still being pursued, as they were subjected to money laundering attempts. The ruling has sparked controversy as every Bitfinex client was affected by the hack, regardless of whether their wallets were emptied by criminals. The ruling leaves a window of opportunity for affected clients to claim restitution until January 28. The individuals behind the hack, Ilya Lichtenstein and Heather Morgan, have admitted their involvement in money laundering and hacking Bitfinex. Lichtenstein received a 5-year sentence, while Morgan is facing 3 years in jail. Those who believe the stolen funds should be returned to affected clients see the ruling as unjustified, while those who prefer Bitfinex having the coins over the DOJ can celebrate the return of the funds and the potential recovery of clients' funds.
Content Editor ( crypto.news )
- 2025-01-19
Why is the return of stolen $9 billion in BTC to Bitfinex controversial?
