Bitfinex Recovers Stolen BTC and Reimburses Clients with US Government Help

Bitfinex Recovers Stolen BTC with US Government’s Help and Reimburses Clients

Bitfinex, an advanced cryptocurrency exchange, has announced its plans to reimburse its clients after recovery of a part of the stolen Bitcoins (BTC) which was reported in 2016. The exchange had lost 120,000 BTC (approx. $72 million) and currently retrieved 27.7 BTC out of the total amount. The U.S. government had informed Bitfinex about the recovery in November 2018.

According to Bitfinex, it will be refunding the retrieved amount to about 5,000 of its customers that were affected by the hack in 2016. The company will convert the recovered Bitcoins to dollars before reimbursing it to the clients. The exchange had collaborated with unnamed law enforcement agencies from both the U.S. and Europe for conducting investigations into the case.

Giancarlo Dev, CFO at Bitfinex, has praised the U.S, government for its efforts in recovering the stolen BTCs in two years. He has also applauded its clients for being loyal and confirmed that the company will continue to assist the law enforcement agencies with their inquiries.