The Bitfinex hack in 2016 remains one of the largest cryptocurrency thefts ever, involving the theft of around 120,000 Bitcoin($BTC ), valued at $71 million back then but now worth over $4 billion.
Two individuals, Ilya Lichtenstein and Heather Morgan, were arrested for attempting to launder the stolen funds.
Over the years, they used a complex network of transactions to move and obscure 25,000 Bitcoin.
However, U.S. law enforcement eventually recovered 94,000 Bitcoin, making it the largest financial seizure in the Justice Departmentâs history.
The recovery operation, completed in 2022, highlights the U.S. government's ability to trace cryptocurrency transactions despite efforts to maintain anonymity.
Bitfinex, which initially compensated its customers with tokens, is now working to reclaim the stolen Bitcoin.
Both Lichtenstein and Morgan face serious charges that could result in up to 25 years in prison
