US Government Says $11B in Seized Bitcoin Should be Returned

The US authorities has officially said that much than $11 cardinal successful seized Bitcoin would beryllium returned to its rightful owners. Indeed, according to a caller filing, officials said that the 120,000 BTC that was seized successful narration to the 2016 Bitfinex hack should beryllium returned arsenic “in-kind restitution.”

At the clip of the theft, the stolen cryptocurrencies were worthy astir $70 million. With the plus surging successful worth implicit caller years, the compromised Bitcoin tokens are worthy acold more. Moreover, successful November of past year, the antheral liable for the hack was sent to prison. Indeed, helium received a five-year situation sentence, according to a property merchandise from the US Justice Department.

JUST IN: US Government says 120,000 seized Bitcoin worthy $11.87 cardinal from Bitfinex hack should beryllium returned to its rightful owners.

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US Government Says 120,000 Seized BTC Should beryllium Returned to Rightful Owners

In 2016, the onslaught connected Bitfinex was among the biggest cryptocurrency thefts. Now, astir 9 years later, it remains 1 of the biggest tragedies the manufacture has faced. Late past year, Ilya Lichtenstein, the idiosyncratic liable for the attack, had been sentenced for their engagement successful the attack.

Now, determination has been a important improvement regarding what to bash with the cryptocurrency funds that were seized. According to a caller tribunal filing shared connected X (formerly Twitter), the US authorities has said that the $11.87 cardinal successful seized Bitcoin from the Bitfinex hack should beryllium returned to its rightful owners.

Source: Watcher Guru

Also Read: US Government Moves $1.92B Worth of Bitcoin

In the decision of the filing, the US writes, “such voluntary restitution should see each of the assets seized from the Bitfinex Hack Wallet and that, pursuant to the plea agreements, those assets should beryllium returned to Bitfinex arsenic in-kind restitution.”

Conversely, the US authorities is 1 of the largest holders of Bitcoin successful the world. Indeed, state holds much than $20 cardinal worthy of the starring cryptocurrency, according to Arkham Intelligence data. Most of those assets were seized from the Silk Road Marketplace.