o3n [ozone] blockchain layer

Blockchain source

Menu
  • Cybersecurity services
Menu

Bitfinex’s Stolen Funds Partially Recovered and Returned by US Law Enforcement

Posted on February 25, 2019 by nbelov

The United States’ law enforcement recovered and returned over $104,000 stolen from cryptocurrency exchange Bitfinex.

The United States’ law enforcement recovered and returned over $104,000 stolen from the cryptocurrency exchange Bitfinex, according to a Medium post by the exchange published on Feb. 25.

The funds returned are reportedly just under 27.7 Bitcoins (BTC), which were stolen in August 2016 in a hack that involved the theft of around 120,000 BTC in total.

Bitfinex Bitcoin Recovery

At the time, Bitfinex reportedly generalized the losses across all accounts and credited BFX tokens, one per every dollar lost, to those affected by the hack. These tokens could be redeemed for one dollar each or exchanged for the company’s stocks. The holders who chose to convert into stocks also received Recovery Right Token (RRT) tokens, while all BFX tokens were then destroyed.

Since some of the stolen coins have been received, Bitfinex notes that they are now reportedly being converted to U.S. dollars and paid to RTT holders.

According to the announcement, Bitfinex was first alerted that the U.S. government had obtained access to funds believed to be proceeds from the hack in November last year.

Since the beginning of 2019, the crypto community has already experienced at least one large-scale hack of an exchange.

As Cointelegraph reported at the end of January, two weeks after it first reported a hack, New Zealand-based cryptocurrency exchange Cryptopia was still compromised by cyber criminals who already liquidated $3.2 million in tokens obtained through the hack.

Also, in November last year, the recently reopened Japanese crypto exchange Coincheck, which had lost over $520 million in a hack in January 2018, announced it had resumed NEM (XEM) crypto token trading after a restructuring of its platform by external security experts.

Source: Cointelegraph https://cointelegraph.com/

Recent Posts

  • Crystal Blockchain is expanding its sales team for H2 2022 – Yahoo Finance May 24, 2022
  • Blockchain in Healthcare Market Growth Prospect and Future Scenario by Key Players- IBM Corporation, Microsoft Corporation, Guardtime AS – The Daily Vale – The Daily Vale May 24, 2022
  • Project SEED to Shape the Future of Blockchain Gaming | Bitcoinist.com – Bitcoinist May 24, 2022
  • Can blockchain offer the solution to crowdfunding? – CryptoSlate May 24, 2022
  • Massive Growth of Blockchain in Genomic Data Management Market by 2029 | Amazon.com Inc, PayPal, Staples Inc – The Daily Vale – The Daily Vale May 24, 2022
  • Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23 May 24, 2022
  • Coinbase offers 'thousands of tokens' in expanded swap service May 24, 2022
  • FTX reportedly shopping for brokerages in preparation for stock trading May 24, 2022
  • HIVE Blockchain Announces 5 to 1 Share Consolidation Effective at Market Open May 24, 2022 – Yahoo Finance May 24, 2022
  • Financial experts seek review of blockchain, fintech regulations – Punch Newspapers May 24, 2022
  • Accubits named among global blockchain solutions providers – BusinessLine May 24, 2022
  • IoT and Blockchain Market 2022 to Register Incredible Developments – IBM, Intel, The Linux Foundation, Microsoft, Ethereum Foundation, etc – The Daily Vale – The Daily Vale May 24, 2022
  • Blockchain Distributed Ledger Market Upcoming Trends, Segmented by Type, Application, End-User and Region -Chain, Microsoft Corporation, Eris Industries, IBM, Blockchain Tech, Accenture, Earthport, Deloitte, Intel, Digital Asset Holdings – The Daily Vale – The Daily Vale May 24, 2022
  • eBay drops first NFT collection to non-crypto mainstream buyers May 24, 2022
  • South Korean police request exchanges freeze LFG related funds May 24, 2022
  • Legion Network Launches Blockchain Super App – GlobeNewswire May 24, 2022
  • Core Ethereum developer details changes to expect after the Merge May 24, 2022
  • Blockchain In Automotive Market would Register a Healthy Growth of USD 49.93 billion by 2027 :IBM (US), Microsoft (US), Accenture (Ireland), carVertical (Estonia), Helbiz (US), Tech Mahindra (India), SHIFTMobility (US), BigchainDB (Germany) – The Daily V – The Daily Vale May 24, 2022
  • Blockchain Platforms Software Market Size 2022-2029| Key Players – IBM, Intel, Microsoft, Ethereum, Ripple – The Daily Vale – The Daily Vale May 24, 2022
  • Legal Issues Arise Where the U.S. Government Meets the Metaverse – The National Law Review May 23, 2022
  • LongHash Ventures Partners With Protocol Labs to Launch the Third LongHashX Accelerator Filecoin Cohort May 23, 2022
  • The blockchain tide is out – The Financial Express May 23, 2022
  • EDC Blockchain (EDC) What Does the Chart Say Monday? – InvestorsObserver May 23, 2022
  • PraSaga Announces Appointment of Senior Economic Advisor, Monetary Policy and Sponsorship of Chamber of Digital Commerce Blockchain Summit 2022 – PR Newswire May 23, 2022
  • Fed report finds most Americans who own crypto tend to be high income hodlers May 23, 2022
  • GBA & eZ-XPO host All-in-1 Hybrid Blockchain Expo Conference for Virtual Pitch, NFT, and Job Fair – EIN News May 23, 2022
  • WEF 2022: Bankers at WEF see the need for caution and speed on central bank digital currencies May 23, 2022
  • fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher May 23, 2022
  • WEF 2022: Most DeFi protocols aren’t really decentralized, says European Parliament VP May 23, 2022
  • PTO’s Handling of Patent Eligibility for Blockchain Applications – JD Supra May 23, 2022

Ad

Ad

©2022 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com