US federal judge rejects claims by 9 applicants over 127,271 bitcoins—these coins came from the 2016 Bitfinex hack and are now controlled by the Department of Justice, with proceeds being processed in batches.
The court found that they failed to prove a direct connection to the addresses in question, and therefore have no right to assert claims in the forfeiture proceedings. Their remaining recourse is essentially limited to applying for a reduction only after the government wins the case.
About $8.4 billion is being pushed toward liquidation. Retail investors hoping to reclaim their share from the forfeiture pool face an even higher barrier now.
The court found that they failed to prove a direct connection to the addresses in question, and therefore have no right to assert claims in the forfeiture proceedings. Their remaining recourse is essentially limited to applying for a reduction only after the government wins the case.
About $8.4 billion is being pushed toward liquidation. Retail investors hoping to reclaim their share from the forfeiture pool face an even higher barrier now.