US law enforcers return 27 Bitcoins to Bitfinex from 2016 hack

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The exchange cryptocurrency exchange Bitfinex came under attack in 2016, and the hackers got away with one hundred and twenty thousand (120,000) Bitcoins. The crypto exchange has received a total of quarter less than twenty-eight (27.66 BTC) Bitcoins.

The amount totals to a hundred and five thousand dollars ($105027) at the time of publishing. The company has received the said amount in Bitcoin due to the law enforcement efforts however the details of these efforts are still unknown.

On the other hand, Bitfinex in their medium post that a recovery method has been “outlined” by the company and law enforcers for the recovery of remaining coins.

Bitfinex has already paid all users either in their BFX token that was valued at one dollar for one BFX at the time of the hack. Other methods included direct payments to the users at the rate of one hundred cents for each dollar lost.

The exchange had also created a recovery right token (RRT) that would transform the BFX tokens into shareholding in the company. The recovered Bitcoins would now be distributed among the users at the rate of one dollar for one RRT.

Experts have revealed that the total amount recovered in Bitcoin was worth two hundred and twenty million ($220m) at the Bitcoin peak. Whereas, at the time of publishing the total Bitcoins stolen from Bitfinex are worth is worth four hundred fifty-three million dollars ($453519600).

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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