How Bitfinex Lost $15B: DeFi Risks Every User Should Know
Photo: Coincu
In February 2022, the U.S. Department of Justice arrested two individuals allegedly behind the laundering of roughly 119,754 Bitcoin stolen from Bitfinex in a 2016 hack, charging them with conspiracy to launder approximately $4.5 billion in stolen cryptocurrency at the time of seizure — a case that remains the largest financial seizure in DOJ history and a defining illustration of how centralized exchange failures generate losses that compound across years and market cycles. The 2016 breach saw roughly 119,754 BTC removed from Bitfinex customer accounts through a still-disputed exploit of the exchange’s multisignature wallet infrastructure.
Source: Coincu
