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Home Cryptocurrency

A Cryptocurrency Exchange Is Offering Up To US$400 Million In Rewards For Return Of Stolen Bitcoins

by John Law
August 5, 2020
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Bitfinex is one of a handful of cryptocurrency exchanges that had fallen victim to hackers and their attacks on its service. Now, four years after its crypto-coffers were brutally robbed, the exchange is now both seeking out and hoping anyone with information about the hackers.

To be precise, Bitfinex put out a call to anyone in the cryptocurrency community that could help in the recovery of nearly 120000 Bitcoins that was stolen from the firm back in 2016. Back then, the exchange says that the hackers involved made 2072 unauthorised transactions, resulting in the loss of 119755 Bitcoins.

Back then, the value of the Bitcoins stolen had a value of just US$70 million (~RM294 million). Today, with the value of the Bitcoin currently hovering between RM47000 and RM50000, the total value of all those Bitcoins exceed RM5.7 billion. Therefore, it’s easy to see why Bitfinex is seeking to reclaim those lost coins.

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To that end, Bitfinex has said that it is willing to offer five percent of the total property recovered to anyone who is able to put them in touch with the hackers. Interestingly enough, the exchange will offer 25% of the total property recovered directly to the hackers, should they so choose to return the stolen amount directly. All in all, the total amount the company is willing to offer as a reward is US$400 million (~RM1.68 billion).

(Source: Bitfinex via Techspot)

Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news. 

Tags: Bitcoin
Updated 9:55 am, Thu, 6 August 20
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