Key Takeaways
- A recent court ruling compels the return of over 94,000 seized BTC to Bitfinex, recognizing the exchange as the primary victim.
- The BTC was worth approximately $3.6 billion when first seized, and it has appreciated to more than $9.3 billion today.
- Investigations by multiple US agencies conclude that Bitfinex remains the only eligible victim, prompting efforts for full restitution of all stolen funds.
Court Orders Return of Seized Bitcoin to Bitfinex
A court has ruled that more than 94,000 BTC seized from the 2016 Bitfinex hack must be returned to the exchange.
The stash was valued at around 3.6 billion dollars when seized by the Department of Justice in 2022.
Government Recovery Efforts and Asset Valuation
Investigations by the FBI, IRS Criminal Investigation, and Homeland Security Investigations initially recovered over 94,000 BTC.
Subsequent operations between August 2022 and January 2023 raised the total to more than 108,068 BTC by June 2023.
In July 2023, Bitfinex reported receiving 312,219 dollars in cash and 6.917 BCH from the Department of Homeland Security for ongoing recovery efforts.
Bitfinex Identified as the Primary Victim
The US Attorney’s Office for the District of Columbia in October 2024 stated that Bitfinex could be the sole entity eligible for restitution from the 2016 hack.
The government sought permission to use alternative notification methods to find any other possible victims.
The government is not aware of any person who qualifies as a victim under the CVRA or for restitution under the MVRA beyond perhaps Bitfinex.
