U.S. Declares Bitfinex Sole Victim in 2016 $7.4 Billion Bitcoin Hack Restitution

Oct 9, 2024, 02:06 PM

The U.S. government has declared that Bitfinex may be the sole victim eligible for restitution of the seized Bitcoin from its 2016 hack, which remains one of the largest security breaches in crypto history. The hack resulted in the theft of approximately $7.4 billion worth of Bitcoin, significantly impacting the market and raising concerns about the security of digital asset exchanges. Bitfinex had previously provided tokens to customers to compensate for their losses. The determination that Bitfinex is the sole victim may affect restitution to these customers.