On August 2, 2016, Bitfinex suffered a security breach where 119,755 BTC were stolen. To compensate customers for resulting losses, Bitfinex credited BFX tokens to customers at a ratio of 1 BFX to 1 US dollar lost. Bitfinex honoured its commitment to repay the losses. Within eight months of the security breach, all BFX token holders had their tokens redeemed at 100 cents on the US dollar or exchanged their tokens for shares of the capital stock of iFinex Inc.
All BFX tokens were destroyed as a part of the repayment process. Additionally, Bitfinex created a tradable RRT for certain BFX holders that converted BFX tokens into shares of iFinex.
— How many BTC has been recovered so far?
Bitfinex has collaborated with global law enforcement agencies and other private sector actors to provide intelligence and assist with investigations after the August 2016 security breach. Our combined effort led to the recovery of:
The U.S. Department of Justice has announced on February 8, 2022 that it has recovered a significant portion of the bitcoin stolen during the August 2016 security breach. Read more https://www.bitfinex.com/posts/766
— When will Bitfinex get the stolen BTC?
Bitfinex will work with the U.S. Department of Justice and follow appropriate legal processes to establish our rights to a return of the stolen bitcoin. We will provide further updates on our efforts to obtain a return of the stolen bitcoin as and when those updates are available.
— What will happen to my RRT tokens?
As all BFX tokens have been redeemed and destroyed, in the event of any retrieval of the stolen BTC, recovered funds will be used to make a distribution to RRT holders, up to 1 U.S. dollar per RRT. We plan to stop trading for the RRT/USD pair as soon as a sufficient amount of BTC has been recovered and is at our disposal to be sold to cover the entire amounts outstanding to RRT holders.
— How many UNUS SED LEO tokens will be burned? Are you planning to sell the BTC recovered to buy back the UNUS SED LEO tokens?
If Bitfinex receives a recovery of the stolen bitcoin, as described in the UNUS SED LEO token white paper, Bitfinex will, within 18 months of the date it receives that recovery use an amount equal to 80% of the recovered net funds to repurchase and burn outstanding UNUS SED LEO tokens. These token repurchases can be accomplished in open market transactions or by acquiring UNUS SED LEO in over-the-counter trades, including directly trading bitcoin for UNUS SED LEO.
— How can I buy or sell UNUS SED LEO tokens?
UNUS SED LEO tokens can be traded in the open market for BTC, ETH, EOS, USD and USDt. OTC deals can also be arranged.