Please enter CoinGecko Free Api Key to get this plugin works.

The recovery of the Bitfinex incident has sparked reactions from the crypto community

As the Bitfinex attack was being investigated, crypto celebrities on social media stated their opinions, asked questions, and expressed astonishment.

On February 1, about $2.5 billion was moved from the 2016 Bitfinex breach wallets. That roughly 90,000 Bitcoin (BTC) worth $3.6 billion were collected into one wallet address after evaluating the transactions. The hackers were apprehended more than a week later.

The US Department of Justice confiscated $3.6 billion in cryptocurrency and arrested two people linked to the 2016 breach. According to the Department of Justice, alleged hackers Ilya Lichtenstein and Heather Morgan were detained after federal investigators used their expertise to “trace the money across the blockchain.”

While some of the cash were partially recovered in 2019, the most recent recovery astounded the community because many did not believe the funds could be returned after five years. Following this, the crypto community expressed a range of emotions.

Morgan’s middle name, “Reyhan,” is a common name in Turkey, and Emin Gün Sirer, the founder of Ava Labs, believes she may have a Turkish ancestry, making her one of the wealthiest Turks for a long time. He also congratulated the authorities on their successful recovery of the cash.

Binance CEO Changpeng Zhao posed two queries on the funds’ recovery. “Did Bitfinex lose or make money from the hack?” he asked on Twitter. “If they receive the BTC back, how should they split it with LEO holders or persons who incurred a loss to take LEO at the time of the hack, then sold LEO?” he added.

Ran Neuner, the host of Crypto Banter, may have a solution to this query. The hack, according to Neuner’s tweet, could be the finest deal ever.

Crypto Pragmatist’s founder, Jack Niewold, believes that this has huge consequences for BTC and LEO. “With selling methods like TWAP and OTC trades, it’s unlikely to have a significant impact on the $BTC market, but $4 billion is a sizable chunk,” he added.

Anthony Pompliano, a crypto entrepreneur, just stated his disbelief in the perpetrators.


Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Leave a Comment

Your email address will not be published. Required fields are marked *


Recent Posts

Follow Us