Bitfinex Promotes Top Traders Amid Alleged Hackers’ Court Appearance

Picture Source: BeInCrypto

Bitfinex, the eighth-largest crypto spot exchange by trading volume, has taken to social media platform X (formerly known as Twitter) to promote the successes of its top traders in an effort to project solvency and health. Amidst these promotional tweets, the company is set to face the court appearance of a pair of alleged hackers connected to a significant hack in 2016.

The promotional posts on Bitfinex’s Leaderboard applaud trader EGAF, who leads with $4.4 million in unrealized profits, showcasing the achievements of its top traders to boost confidence in the exchange’s financial standing.

However, the timing of these posts coincides with the scheduled court appearance of Ilya Lichtenstein and Heather Morgan. Authorities arrested the couple in 2022, labeling them the “crypto couple,” following the DOJ’s “largest financial seizure.” The couple is expected to plead guilty to charges related to the alleged hack of the Bitfinex exchange in 2016, which resulted in the laundering of $4.5 billion in stolen funds.

In the 2016 hack, Bitfinex lost a staggering 119,754 Bitcoin, valued at around $72 million at the time of the attack. Although the US government was able to recover some of the stolen Bitcoin in 2022, the original wallet connected to the attack still held about 80% of the stolen funds.

Read More: ARB Investors React to Potential Exploit on Arbitrum’s Tricrypto Liquidity Pool

Despite the impending legal drama, Bitfinex has not commented on the situation publicly and instead chose to highlight its traders’ achievements. Meanwhile, one of the accused hackers, Heather Morgan, secured a job at an undisclosed tech firm earlier this year, where she was allowed to work specific hours for three days a week in a role involving marketing and business development.

As the court hearing unfolds, the attention of the crypto community will be on the outcome of the plea hearing and its potential impact on Bitfinex and the broader crypto market.

Leave a Reply

Your email address will not be published. Required fields are marked *