Judge says it could be ‘improper’ to order Bitfinex hack funds returned
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A judge has expressed concerns that it could be improper to order the return of funds stolen in the 2016 Bitfinex hack. The hack, which saw 119,756 bitcoins stolen, is one of the largest cryptocurrency thefts in history. The stolen bitcoins are now worth over $4 billion.
The judge, Lewis Kaplan, made his comments during a hearing on a motion by the US government to seize the stolen bitcoins. The government has argued that the bitcoins are the proceeds of crime and should be returned to their rightful owners. However, Kaplan said that he was not convinced that the government had met its burden of proof.
Kaplan said that he was concerned that ordering the return of the bitcoins could be improper because it could interfere with an ongoing criminal investigation. He also said that he was not sure whether the government had the authority to seize the bitcoins.
The government has argued that it has the authority to seize the bitcoins under the Proceeds of Crime Act. However, Kaplan said that he was not convinced that the Act applied to this case.
The hearing is scheduled to continue on August 22. It is unclear when Kaplan will make a final decision on the government's motion.
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