US officials have confirmed that over $11 billion worth of seized Bitcoin will be returned to their rightful owners. According to a filing made by officials, the 120,000 BTC seized as a result of the Bitfinex hack in 2016 should be returned. “in-kind restitution.”
The stolen Bitcoin tokens were valued at around 70 million dollars when the theft occurred. The value of the Bitcoin tokens has increased dramatically in recent years. The man who was responsible for this hack was also sent to jail in November. According to an article, the man received a 5-year sentence in prison. press release The US Justice Department
JUST IN: 🇺🇸 US Government says 120,000 seized Bitcoin worth $11.87 billion from Bitfinex hack should be returned to its rightful owners.
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US government says 120,000 BTC seized should be returned to their rightful owners
In 2016, Bitfinex’s attack was the most significant cryptocurrency theft. It is still one of the worst tragedies that the cryptocurrency industry has ever experienced, nearly nine years after the attack. Ilya Lightenstein was sentenced to prison for her involvement in the assault late last year.
There has been an important development in regards to what should be done with the cryptocurrency funds seized. A recent court filing shared on X (formerly Twitter), US officials have said the government should return the $11.87billion worth of Bitcoin that was seized in the Bitfinex Hack to their rightful owner.
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As part of its filing, the US states: “such voluntary restitution should include all of the assets seized from the Bitfinex Hack Wallet and that, pursuant to the plea agreements, those assets should be returned to Bitfinex as in-kind restitution.”
The US Government is also one of the biggest holders of Bitcoin. According to reports, the country owns more than 20 billion dollars of Bitcoin, which is the world’s leading cryptocurrency. Arkham Intelligence data. These assets are mostly from Silk Road Marketplace.
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Source: watcher.guru
