The cryptocurrency trading platform, Bitfinex receives the 27.66270285 BTC from the U.S government. These Bitcoins were unlawfully taken during the August 2016 security breach.
Right from the well-documented hack in 2016, Bitfinex collaborated with international law enforcement agencies. Their aim is to provide intelligence and assist the investigations. Finally, Bitfinex has now retrieved 27.7 BTC. Moving further to the recovery strategy, the BTC is now converting to USD and paid to Recovery Right Token (RRT) Holders.
During an event of retrieval of any stolen property, any outstanding or unconverted BFX token holders are reimbursed. And finally the distribution of recovered funds to RRT holders takes place. Eventually, its costs up to 1 dollar per RRT. When all BFX tokens get redeemed and destroyed, full amount of recovered bitcoins are distributed pro rata to RRT holders.
It gives us great pleasure to report we have received bitcoins from the U.S. government that were proceeds of the 2016 security breach. In line with our original recovery plan, this is being converted to USD and paid to RRT holders.
Find out more here – https://t.co/UwCMNERes9
— Bitfinex (@bitfinex) February 25, 2019
The Chief Financial officer at Bitfinex, Giancarlo Devasini thanks the U.S federal law enforcement agencies for all their efforts in investigating the security breach.
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. 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. We would like to thank U.S. federal law enforcement agencies for their ongoing efforts to investigate the security breach and their commitment to seizing and returning stolen assets.
Adding to which he also explains his future plans saying,
We will continue to assist law enforcement with their inquiries, 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.