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REWARD: $400 million – Offered by Bitfinex for stolen 120,000 BTCs

Major crypto exchange Bitfinex has given a multi-million dollar reward to anyone who can point to the hackers accountable for the theft of approximately 120,000 BTCs during August 2016.

Surprisingly, this was even offered to the hackers themselves.

Today’s worth of the bitcoin stolen from Bitfinex four years ago is about US 1.34 billion dollars. “The aggregate rewards available under this program could be worth up to approximately USD 400 million at the current BTC price if all bitcoins are fully recovered,” the company said, adding that the hackers themselves will also be rewarded for returning the stolen property.

“We will reward anyone with information that can put us in direct contact with those responsible for the 2016 security breach at Bitfinex. […] The hackers will receive a share of the returned property,” as stated by the Chief Technology Officer Bitfinex, Paolo Ardoino.

The firm proceeded that “the bitcoins stolen minus recoveries in 2019 are worth 1.344 billion (US$) today, with 30 percent of that amount equal to 403,288,427 (US$).”

The reward will be given once the identity of the hackers is confirmed. These informants will get 5% of the total property recovered or “equivalent funds or assets at current market values.”

The hackers themselves can get their reward if they return the stolen bitcoin, and their share will be 25%. “Any payments made to those connecting Bitfinex will work to ensure this can be done securely, thereby protecting the identities of all parties, and Bitfinex reserves the right to impose conditions on any transfers to verify claims and ensure a secure process,” they added.

On August 2, 2016, hackers made 2,072 unauthorized transactions, representing BTC 119,755 in aggregate.

As part of Bitfinex’s recovery plan, they provided BFX tokens to all concerned users, with each token representing USD 1 of losses. The authorities are already handling the investigation on the stated adverse system breach.

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