US Government Returns .02% of Stolen Bitfinex Bitcoin

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An unnamed US government law enforcement agency has reportedly returned less than half of percent worth of Bitcoin (BTC) stolen from the Bitfinex exchange in a 2016 hack, Bitfinex have announced in a press release.

The 2016 hack reaped nearly 120 thousand bitcoin stolen, worth at the time about $75 million – and as of today worth nearly half a billion dollars.

From that sum, only 27.66270285 bitcoin have been returned to the Hong Kong-based exchange.

In the aftermath of the theft, more than two years ago, Bitfinex socialized their total losses of 36% of user funds around the entire user base, even though not all users’ wallets were hacked. But within eight months, all users were compensated for their losses either in USD terms, or allowed to opt for a sort of tokenized stock – the tradeable Recovery Right Token (RRT) – in Bitfinex’s parent company iFinex.

Bitfinex explained in the release that the 27.66 bitcoin, worth about $100,000 on today’s market, were equally distributed among those RRT holders.

As explained, there was no mention of precisely which US agency returned the tokens, only referencing the help of “U.S. law enforcement efforts.”

The small sum returned by Bitfinex has already become the subject of some ridicule on crypto social media, with Bitcoin developer Udi Wertheimer calling it a “non-event with a scammy headline.”

Speaking of Hacks

CryptoGlobe reported recently that Coinbase CEO Brian Armstrong doesn’t consider the now-infamous QuadrigaCX hack to in fact be an exit scam, as many have suggested.

Rather, he speculates that QuadrigaCX CEO Gerald Cotten’s untimely death may have been used by the exchange’s management as “an outlet to let the company sink.” QuadrigaCX had tens of millions of dollars frozen last year by the Canadian Imperial Bank of Commerce, which the exchange suggested was an aggressive act on the part of a “Banking Cartel Conspiracy,” whose intent was to box-out crypto users.

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