US Government Seeks to Return Stolen Bitcoin from 2016 Bitfinex Hack

The post US Government Seeks to Return Stolen Bitcoin from 2016 Bitfinex Hack appeared first on Coinpedia Fintech News In a latest development, as per a court document filed this week, the U.S. government noted that over 94,000 bitcoin stolen in the 2016 hack of Bitfinex by Ilya Lichtenstein and Heather Morgan should go back to the exchange. As expected *GOVT SAYS SEIZED BITCOIN FROM 2016 BITFINEX HACK SHOULD BE RETURNED IN-KIND Do they just ask Paolo for the addy? https://t.co/8iwx6J1XR6 pic.twitter.com/ndNd1UrdWG — db (@tier10k) January 15, 2025 “For the foregoing reasons, there is no ‘victim’ for the specific offenses of conviction in this proceeding,” the government noted in a filing posted on Tuesday to the U.S. District for the District of Columbia. “However, the Court has the authority to order voluntary restitution pursuant to the defendants’ plea agreements. 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 stolen cryptocurrencies were worth around $70 million at the time of the theft, but have since appreciated in value. In 2016, the attack on Bitfinex was among the biggest cryptocurrency thefts. Now, almost nine years later, it remains one of the biggest tragedies the industry has faced. Late last year, Ilya Lichtenstein, the person responsible for the attack, had been sentenced for their involvement in the attack. Notably, the US government is one of the largest holders of Bitcoin in the world. Indeed, country holds more than $20 billion worth of the leading cryptocurrency, according to Arkham Intelligence data. Most of those assets were seized from the Silk Road Marketplace.