Bitfinex hack incident results in profit, says crypto community

Many crypto players shared their thoughts on the latest recovery of the stolen Bitcoin of the Bitfinex exchange.

In 2016, Bitfinex exchange lost around 120,000 Bitcoins in a hack attack. A couple of days ago, US agency successfully arrested two people and also found the private key of Bitcoin, which containd around 94,000 Bitcoins. Hopefully these bitcoins will go to the Bitfinex exchange. 

Ran Neuner, the host of Crypto Banter, shared his thoughts on this matter and said that Bitfinex lost $76 million worth of Bitcoin and in return, it will get $3.6 billion worth of Bitcoins. In this way, Ran suggested to people that we can buy Bitcoin at loan and can pay slowly. 

The Bitfinex hack was the best trade ever made.

119,000 Bitcoin was stolen in 2017. Value $76m.

Bitfinex repaid the victims the USD equivalent ($76m)over time through a recovery token.

Bitfinex get $3.6bn 5,5 years later.

Borrow $76m, repay it slowly , get $3,6bn. 5,5 years.

— Ran NeuNer (@cryptomanran) February 8, 2022

Changpeng Zhao, CEO of Binance, also shared his thoughts and asked the community two important questions. The first question Zhao asked whether Bitfinex will make money or not. From this hack incident matter and secondly, how will they split if they will get their Bitcoins.

Didn't have time to research it in detail. 2 honest questions.

Did bitfinex lose or make money from the hack?

If they get the BTC back, how should they split that with LEO holders, or the people who took a loss to accept LEO at the time of the hack (and then sold LEO)?

— CZ Binance (@cz_binance) February 8, 2022

Binance CEO raised a really good question but here the community is somewhat confused with the Leo token and RRT token. Reportedly Leo token was donated to the community in componsation of loss.

Binance CEO also supported crypto and claimed that Bitcoin and crypto are traceable but fiat not. Indirectly appreciated the blockchain technology features. 

Crypto is easier to track than fiat.https://t.co/OwOWCcIg9G

— CZ Binance (@cz_binance) February 8, 2022

On the other hand, people are raising voices in support of Bitcoin and claiming that the US government is officially holding $4.5 billion worth of Bitcoin on its balance. 

Even Michael Saylor, CEO of Microstrategy, also shared his happiness on this matter.

The U.S. has billions in #bitcoin on its balance sheet.https://t.co/iQd9YLCkhv

— Michael Saylor (@saylor) February 8, 2022

Read also: El Salvador will issue its first bitcoin bond in March