Bitcoin [BTC] returned to Bitfinex by the US government; proceeds to go to RRT holders

The cryptocurrency market was the victim of several malicious attacks as well as hacks. Many of these attacks usually leave the victims helpless. In a new turn of events, Bitfinex announced that users who were affected by the 2016 attack will be receiving their Bitcoins [BTC] back after being converted to USD. In an official release given out by the company, the cryptocurrency exchange stated that,

“Bitfinex has now retrieved 27.7 BTC and, further to the recovery strategy outlined in the aftermath of the hack, this is being converted to USD and paid to RRT (Recovery Right Token) Holders.”

In the aftermath of the 2016 attacks, Bitfinex was committed to finding out the perpetrators and reclaiming the stolen Bitcoin. The organization generalized the losses across all accounts and credited BFX tokens to customers at a ratio of 1 BFX to 1 dollar lost. Giancarlo Devasini, the Chief Financial Officer at Bitfinex said,

“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.”

The cryptocurrency exchange created the Recovery Right Token for BFX holders that converted BFX tokens into shares of iFinex. All the BFX tokens have been destroyed or redeemed now while at the same time, the recovered Bitcoins are being distributed amongst the rightful owners. The Bitfinex CFO also commented,

“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.”

The cryptocurrency exchange, Bitfinex was in the news earlier when they announced the listing of Tron’s BitTorrent [BTT] token on its platform. BTT will be paired with Bitcoin and the US dollar.

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