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Bitfinex to Recoup Stolen Bitcoin After US Restitution Mandate
In a recent development, it has been revealed that Bitfinex, one of the largest digital asset trading platforms in Asia, is working towards recovering stolen Bitcoin from hackers. The move comes as a response to a recent mandate by the United States (US) government.
The US restitution mandate has compelled Bitfinex to take immediate action against any outstanding losses resulting from cyber attacks. As such, the platform will be engaging in an extensive effort to trace and recover stolen assets, including Bitcoin, that were pilfered by malicious actors.
While the details of the plan have not been publicly disclosed, it is understood that Bitfinex has already begun collaborating with law enforcement agencies and cryptocurrency exchanges worldwide to identify and retrieve the lost funds.
This development comes at a time when the global crypto market is experiencing heightened turbulence. As reported earlier, Bitcoin ETFs faced significant outflows of $1.2 billion in just nine hours, indicating growing unease among investors.
In other news, Bitcoin holders have maintained an optimistic outlook despite recent price fluctuations, as indicated by NUPL remaining in positive territory.
Meanwhile, options platform Deribit has attracted potential buyers amid the ongoing crypto M&A boom, although it is not officially for sale.
Lastly, Standard Chartered has reaffirmed its year-end price projection of $200,000 for Bitcoin, emphasizing that any retracement below $80,000 presents a “medium-term” buying opportunity.
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Source: cryptoslate.com
