An unnamed US government law enforcement agency has reportedly returned less than half of percent worth of Bitcoin (BTC) stolen from the Bitfinex exchange in a 2016 hack, Bitfinex have announced in a press release.
From that sum, only 27.66270285 bitcoin have been returned to the Hong Kong-based exchange.
In the aftermath of the theft, more than two years ago, Bitfinex socialized their total losses of 36% of user funds around the entire user base, even though not all users’ wallets were hacked. But within eight months, all users were compensated for their losses either in USD terms, or allowed to opt for a sort of tokenized stock – the tradeable Recovery Right Token (RRT) – in Bitfinex’s parent company iFinex.
Bitfinex explained in the release that the 27.66 bitcoin, worth about $100,000 on today’s market, were equally distributed among those RRT holders.
As explained, there was no mention of precisely which US agency returned the tokens, only referencing the help of “U.S. law enforcement efforts.”
The small sum returned by Bitfinex has already become the subject of some ridicule on crypto social media, with Bitcoin developer Udi Wertheimer calling it a “non-event with a scammy headline.”
Misdirection level: BITCONNECThttps://t.co/4hUpsVo9Ee
— Udi Wertheimer (@udiWertheimer) February 25, 2019
Speaking of Hacks
Rather, he speculates that QuadrigaCX CEO Gerald Cotten’s untimely death may have been used by the exchange’s management as “an outlet to let the company sink.” QuadrigaCX had tens of millions of dollars frozen last year by the Canadian Imperial Bank of Commerce, which the exchange suggested was an aggressive act on the part of a “Banking Cartel Conspiracy,” whose intent was to box-out crypto users.