• Bitfinex has recovered $312,219 in cash and 6.9 in Bitcoin Cash (BCH) from the US Department of Homeland Security following the 2016 hack.
• The assets were seized by US authorities after arresting two individuals connected to the Bitfinex hack.
• At current prices, the stolen assets are worth a staggering $3.6 billion.
Bitfinex Recovers Stolen 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.
The exchange stated in a press release that it had received the assets in question from the United States Department of Homeland Security. It managed to recover $312,219 in cash and 6.9 in Bitcoin Cash (BCH) worth around $1951 at today’s prices.
The exchange has been working with authorities to recover the assets stolen during the hack and return them to customers. Bitfinex stated in its blog post that the United States government was continuing to make progress in prosecuting the individuals involved with the breach. The United States Customs and Border Protection agency conducted the seizure of the recovered assets.
Bitfinex Hack Details
The Bitfinex hack was one of the biggest hacks to hit crypto at the time, with hackers managing to steal around 119,756 Bitcoin (BTC) from exchange due to a security breach which was valued at around $71 million back then but is now valued at around $3.6 billion currently due to appreciation of cryptocurrency prices over time.. On several occasions, hackers had moved crypto around for money laundering purposes which were tracked down by US authorities who arrested two culprits Ilya Lichtenstein and Heather Morgan who were married couple from New York on charges of conspiracy related to money laundering activities after seizing control of these funds backin 2022..
Paolo Ardoino, CTO at Bitfinex thanked authorities for their commitment towards recovering as much as possible for holders of tokens issued as response towards this incident while also looking forward for more recovery progress made by law enforcement officials regarding this case which happened almost seven years ago now