Bitfinex has received close to 28 BTC from US federal law enforcement agencies, according to a post on their Medium page. The authorities recovered the stolen bitcoin after it had been taken in the Bitfinex August 2016 security breach. British Virgin Islands-registered Bitfinex, ranks as the second-biggest exchange in the world by trading volume.
Bitfinex General Counsel, Stuart Hoegner, told Reuters that both US and European law enforcement agencies were involved in investigating the crime although he declined to give further details.
The bitcoin will be converted to USD and paid to Recovery Right Token (RRT) holders. The RRT was developed to “compensate victims of the security breach and, thereafter, to offer a priority to early BFX token conversions”.
The company’s post explained that the benefit to RRT holders was that in “the event of any retrieval of the stolen property, and after any outstanding or unconverted BFX token holders have been reimbursed, recovered funds are distributed to RRT holders, up to $1 per RRT”.
Hack Worth $72 Million In 2016
In one of the most audacious thefts from a crypto exchange ever, the hackers managed to steal almost 120 000 bitcoin, worth about $72 million at the time.
“Over two years following the hack of the Bitfinex platform, today we see the results of a clear and robust response strategy and the efforts of the U.S. government,” said Giancarlo Devasini, Chief Financial Officer at Bitfinex. “It gives us great pleasure to be able to reimburse our traders that were loyal to us and believed in us at a very difficult time”.
He thanked the law enforcement agencies for their ongoing efforts and their commitment to seizing and returning stolen assets.
“We will continue to assist law enforcement with their inquiries,” he continued, “and also once again extend an open invitation to the hackers, or anyone harbouring information pertaining to the breach, to make contact in whichever medium they feel most secure with, to finally resolve the situation in a mutually beneficial manner.”