$9,317,156,860 Worth of Seized Bitcoin To Be Returned to Bitfinex, Says US Government in New Court Order
The Bitcoin (BTC) that was stolen from crypto exchange Bitfinex in 2016 and subsequently seized by the US government in 2023 should be returned in-kind, according to a new court order.
In a January 14th filing with the U.S. District for the District of Columbia, the government says that the BTC currently held in its wallets is to be returned to Bitfinex, the “sole victim” of the hack.
The conclusion of the court order states,
“For the foregoing reasons, there is no ‘victim’ for the specific offenses of conviction in this proceeding. However, the Court has the authority to order voluntary restitution pursuant to the defendants’ plea agreements.
Such voluntary restitution should include all of the assets seized from the Bitfinex Hack Wallet and that, pursuant to the plea agreements, those assets should be returned to Bitfinex as in-kind restitution. All other seized assets listed in the Corrected Second Amended Attachment A (ECF 195) should be subject to the ongoing third-party ancillary forfeiture proceeding.”
Ilya Lichtenstein and his wife Heather Morgan were charged by the DOJ in 2022 in relation to the hack. The government says that Lichenstein stole approximately 119,754 BTC from Bitfinex, and then withdrew and laundered about 25,000 coins.
Lichenstein also wrongfully gained from the several Bitcoin forks such as Bitcoin Cash (BCH), Bitcoin Satoshi Vision (BSV) and Bitcoin Gold (BTG).
After the government seized the Bitcoin in January 2022, Lichenstein’s wallet still contained 94,643 coins. According to the court order, those coins are now to be returned to Bitfinex in-kind rather than first being sold for US dollars.
Lichtenstein recently appeared as a cooperating US government witness in an ongoing money laundering trial centered around the crypto mixing service Bitcoin Fog, according to a Bloomberg report.
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The post $9,317,156,860 Worth of Seized Bitcoin To Be Returned to Bitfinex, Says US Government in New Court Order appeared first on The Daily Hodl.
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Shiba Inu Price Gearing Up To Fly After Lows, Here’s The Target
Recent technical analysis suggests that the Shiba Inu price may be preparing for a bullish rally, as the second-largest meme coin shows signs of a recovery from a correction phase. With key support levels established, a crypto analyst has projected a new bullish price target for Shiba Inu (SHIB).
Shiba Inu Price Targets $0.000033 And Beyond
On Tuesday, a TradingView crypto analyst, known as the ‘Real_CryptoRoy’, declared that Shiba Inu is getting ”ready to fly,” highlighting its potential for a significant price recovery to new highs. The analyst believes that Shiba Inu’s first major milestone for 2025 will be a climb above $0.000025, a critical level that would confirm its bullish position.
If this crucial price point is reclaimed, the TradingView analyst suggests it could set the stage for Shiba Inu to retest a new resistance zone at $0.000033. This critical price level is one of Shiba Inu’s recent highs, achieved during a period of explosive growth and heightened demand.
The TradingView crypto expert shared a price chart, highlighting that a break of the aforementioned resistance level, accompanied by strong trading volume, could pave the way for future gains and a larger bullish trend that could push Shiba Inu to new price highs.
While he maintains a confident stance on his bullish outlook for Shiba Inu, the analyst has also highlighted the influence of Bitcoin’s price action and dominance on Shiba Inu’s performance. For instance, if Bitcoin remains stable or bullish, it could create favorable conditions for Shiba Inu and other altcoins to rally. Conversely, if Bitcoin turns bearish, Shiba Inu could also experience price declines and volatility.
For mid-term investors, the current price near $0.00002 may present an opportunity to accumulate Shiba Inu at a low cost while watching its movements closely. The analyst has also highlighted the importance of key resistance and support levels, forecasting that Shiba Inu is preparing for a significant recovery.
SHIB Finds Support Amidst Correction
While sharing his bullish forecast for Shiba Inu, the ‘Real_CryptoRoy’ disclosed that the meme coin is currently in a correction phase after crashing 35% from its local high of $0.000033 and consolidating above $0.00002.
The TradingView analyst revealed that the $0.00002 level was a crucial support zone for Shiba Inucrucial support zone for Shiba Inu, which the meme coin has tested twice. Typically, when a cryptocurrency successfully tests a support level multiple times, it indicates that buyers are stepping in to defend this level and prevent further drawbacks.
This support zone, highlighted by the orange circles on the analyst’s chart, signals a potential local bottom for Shiba Inu. The TradingView crypto expert has noted that Shiba Inu’s present correction phase could present an attractive buying opportunity for investors who aim to capitalize on low prices and potential upward movement.
The analyst also pointed out that Shiba Inu’s price performance on the previous day was noteworthy, as it avoided falling below its prior low. Instead, the meme coin established a “higher low”, indicating that selling pressures may be waning and its correction could be nearing its end.
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