U.S. government moves $606K in 2016 Bitfinex hack bitcoin to Coinbase; exchange to redeem all RRTs and burn LEO

The U.S. government has transferred roughly $606K in bitcoin recovered from the 2016 Bitfinex hack to Coinbase, moving the funds one step closer to returning to the exchange. Bitfinex says it will use the returned coins to redeem all outstanding Recovery Right Tokens, then funnel at least 80% of the remaining net proceeds into buying back and burning its UNUS SED LEO token. Bullish mechanical setup for LEO holders — supply reduction tied to actual recovery, not speculation.

TLDR by @Benthic

More coverage

• US government moves over $606,000 of Bitfinex hack Bitcoin to ... (binance.com)
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• Explained: The US Government - Bitfinex Hack (October 2024) (halborn.com)
• 2016 Bitfinex hack - Wikipedia (en.wikipedia.org)

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