Bitfinex Offers $3.5 Million Bounty for Stolen Bitcoin

[Shiroslullaby]

Anyone who was smart enough to get in and get the coins probably didn't leave any traces of their identity.
And if someone could get access to the addresses, they would steal all the coins for themselves.

So the only way this 5% reward will work is if someones ex-girlfriend or family member etc knew who stole the coins but did not have the technical knowledge on how to get access to the coins but was tempted by the reward.

[Senor.Bla]

Anyone who was smart enough to get in and get the coins probably didn't leave any traces of their identity.
And if someone could get access to the addresses, they would steal all the coins for themselves.

So the only way this 5% reward will work is if someones ex-girlfriend or family member etc knew who stole the coins but did not have the technical knowledge on how to get access to the coins but was tempted by the reward.

it always comes down to some greedy friend/family member. i guess people start asking questions if you adopt the lifestyle, that goes with that money, over night. and then they want in on it. so are there just three options.
1) start a new life
2) don not change your lifestyle
3) go to jail
maybe it is not worth the trouble after all.   

[Hide_ip112]

This is something that is very difficult to search for the thieves will always update addres that receives all of the bitcoin it brings, and this will not result in anything good. better track the IP Addres of the thief afterwards looking for address details and get the House to judge the thief. I am sure it is only by building on their ip addres of the original property of the hacker will be able to easily find

[raphma]

if i can have all the stolen money, why should i have only 5%?...

[Red-Apple]

It could also be that they are hoping that the hacker will return the coins in return for the 5%.

The hackers "loses" a lot in a deal like that, but it makes moving the coins a lot easier for him. Also, it basically removes a huge mark from his back.

We don't know what the reasons behind the hack are (most likely money), but if it is ideological, the coins might reach home with an offer like this.

The hacker could also likely negotiate a higher price than 5%. PGP has already stated that sure they would offer 5% but im guessing they'd be willing to go as higher, something like 25% judging by how he said it. 

i think this is mostly as a show to public.
they want to show that they are trying their best to find the hacker and take back the funds (good luck with that) but it is mostly because they have just started their business again and they want people to trust them again. so they say anything.

[iv4n]

Good luck wit this. 3.5 million dollars looks tempting, but I doubt coins will be found. It's nice to see how bitfinex fight to stay alive, they asked for help  from people week ago, now they offer this high reward for finding coins.
It's gonna be interesting to see how will this situation develop in the future,  can someone really find this coins? And is it possible for coins to disappear without any trace?
I doubt in this, but let's see what will happen before we make any conclusions.

[Omegasun]

It could also be that they are hoping that the hacker will return the coins in return for the 5%.

The hackers "loses" a lot in a deal like that, but it makes moving the coins a lot easier for him. Also, it basically removes a huge mark from his back.

We don't know what the reasons behind the hack are (most likely money), but if it is ideological, the coins might reach home with an offer like this.

The hacker could also likely negotiate a higher price than 5%. PGP has already stated that sure they would offer 5% but im guessing they'd be willing to go as higher, something like 25% judging by how he said it. 

i think this is mostly as a show to public.
they want to show that they are trying their best to find the hacker and take back the funds (good luck with that) but it is mostly because they have just started their business again and they want people to trust them again. so they say anything.

I agree.Don't believe in them. They are just want to run again and have some profit. If they really telling the truth that they had been hacked and willing to pay that amount for bounty, why they shouldn't  give the bounty to those traders that have been lost a lot of btc in their site.? And i think no one will believe in them because what happened. There are a lot of trusted trading site out there so why we must gamble to invest in their platform again. This is a joke.

[Senor.Bla]

It's nice to see how bitfinex fight to stay alive, they asked for help  from people week ago, now they offer this high reward for finding coins.

they are not doing it for charity. they want to save their asses. your post sounds like they doing something generous. don not be fooled. they lost money and it is their job to recover it. also i am sure once they have it there will be no more mr nice guy.

[countryfree]

I don't think bitfinex expects anything from the hacker who stole its millions. Like in a bank robbery, where the police expects information from a witness.  Since hacking is silent and invisible (think one guy in his bedroom), their only chance is from a neighbor, or a relative, who suddenly sees the strange guy who was never going out, always staying in front of his computer, buying a Ferrari and hanging around with stacks of banknotes in his pocket.

[smaxz]

so did they lose this coin through a simple address collision or what?

[unamis76]

so did they lose this coin through a simple address collision or what?

The coins were hacked... a collision is practically impossible.

[Arcteryx]

Where is that rex hacker guy now?
If some one can track him down from his alternative accounts then they would be a rich man from Bitfinex.
Looks like they got alot of funds fast to put together such an amount in the prize bounty.  

[unamis76]

Where is that rex hacker guy now?
If some one can track him down from his alternative accounts then they would be a rich man from Bitfinex.
Looks like they got alot of funds fast to put together such an amount in the prize bounty.  

If you're referring to rekcahxfb, he most likely wasn't the hacker...

[Decoded]

The Hacker(s) most probably now have a strong incentive to get rid of their bitcoin ASAP. They could more easy than not just go onto the dark web and do a trade there, no trace of identity.

[Yakamoto]

Bitfinex has offered a reward for the return, or info leading to the return, of the Bitcoin stolen in the recent hack.

Reddit user someguy916 posted in the /r/Bitcoin subreddit inquiring as to how much of a reward Bitfinex would be willing to offer for the stolen coins. Zane Tackett, Director of Community and Product development, responded with an offer for a small percentage:

5% of recovery and for information leading to recovery (but no bounty if no recovery); if multiple persons lead to recovery, share pro rata

Source : https://cointelegraph.com/news/bitfinex-offers-35-million-bounty-for-stolen-bitcoin

Get to work guys 

I still don't understand how It's impossible to trace them though , I mean If we take in consideration that anything on the blockchain is traceable ... they should track some users addresses till they reach the ADDRESS needed.

Technically it is possible to trace the coins, but you're asking for people with time on their hands to track the guy down. And even once you know what the hacker's address is, even if you get that far, there are still a bunch of other things that have to be identified, like who the hacker is specifically. If they never really do anything with it, there's no way to get a glimpse into who they are, and it would require cooperation from people the hacker sends funds to. Which could be an issue if he only sends funds into the darknet.

[gentlemand]

if i can have all the stolen money, why should i have only 5%?...

I agree that 5% is measly but the hacker may have a hard time disposing of 100,000 or more coins. Who knows,  perhaps they have buyers lined up,  if not then it may take a long time to offload them all. A quick one time payment from Bitfinex might be tempting.

[QuestionAuthority]

Where would they get the $3.5 million?

Dear Suckers Bitfinex customers:

We regret to inform you that in order to have enough money to pay a reward just in case someone catches us the "hacker", we will be upping the amount of worthless priceless tokens we give you instead of your money to 40%.

ROTFLMAO,
                  Bitfinex Team

[stingers]

The chance of getting back to coins is virtually zero. They are just trying to tell everyone that they are "trying"... Even if they find the hacker, they can't do anything as the coins are not recognized by the law as a currency.

Also there is no way to prove that the hacker even holds the address to which the coins have been sent.
I still don't think there is any hack, this is just some BS by a BS exchange.

[electronicash]

Its almost impossible to track the coins with all the mixers these days. Any jack ass can just move the coins elsewhere which couldn't be suspicious enough.
He may buy some altcoins from an exchange, mix it again and run.

The chance of getting back to coins is virtually zero. They are just trying to tell everyone that they are "trying"... Even if they find the hacker, they can't do anything as the coins are not recognized by the law as a currency.

Also there is no way to prove that the hacker even holds the address to which the coins have been sent.
I still don't think there is any hack, this is just some BS by a BS exchange.

But that I can believe.

[beerlover]

This may possibly be a good move for BitFinex sine they'd be receiving quite a lot of help from multiple fellow hackers in tracing those stolen coins. However, this may also increase the difficulty of having to trace the coins since the hackers would easily hide their coins through mixers.