The U.S. law enforcement recently recovered & returned more than $140,000 looted from Bitfinex, the crypto-exchange platform. This news was confirmed by the platform on 25th February. The funds that have been returned are just below 27.7 BTC(Bitcoin) that were stolen back in the month of August 2016 due to a hack which involved the heist of close to 120,000 BTC overall.
Bitfinex is among the top 5 exchange names affected by hacks and stands at number four just after Coincheck, Mt. Gox, and BitGrail and followed by Zaif. At the moment, Bitfinex generalized the overall losses for all accounts while crediting BFX tokens to the ones affected by this hack with one BFX for every dollar lost.
Now, these tokens were designed to be redeemed at the exchange for one dollar per BFX or can be exchanged for stocks of the company. The holders that chose to exchange into stocks received RRT (Recovery Right Token). Since a section of stolen coins were acquired back, Bitfinex noted that these coins are now immediately being converted into U.S. dollars as payment for the RTT token holders.
According to an announcement, the crypto-exchange company was alerted by the United States government that they had obtained complete access to the funds that were believed to have been the proceeds from November month hack that occurred last year.
