On January 16, 2025, the US Department of Justice (DOJ) announced that approximately $9 billion in Bitcoin, specifically 94,643 BTC, stolen from the Bitfinex exchange during a 2016 hack, should be returned to the exchange. This proposal emerged from a legal document indicating no identifiable victims under the current legal framework.
The DOJ's filing clarified that the defendants, Ilya Lichtenstein and Heather Morgan, were convicted of Money Laundering Conspiracy but not the original hack that led to the theft. As such, Bitfinex and its account holders are not classified as victims under the Mandatory Victim Restitution Act (MVRA), which necessitates direct harm from a specific offense.
While mandatory restitution cannot be ordered, the court retains the authority for voluntary restitution, which may allow for the recovery of the stolen assets as part of the defendants' plea agreements. This ruling could provide a significant financial benefit for Bitfinex, although it introduces potential legal complexities regarding additional seized assets linked to the defendants' laundering activities.
As of this morning, Bitcoin has seen a 4% increase in the last 24 hours, approaching the $99,100 mark, reflecting renewed bullish momentum in the market.