By now, most people within the crypto industry are familiar with the concept of crypto exchange hacks have several exchanges from the huge ones like Binance to the smaller ones like Maple coin have been hacked at one point or the other this has led to collectively to the loss of hundreds of millions of dollars in cryptocurrency. However, perhaps one of the most impactful was in the hack of Mt. Gox a few years ago which was one of the largest exchanges on the planet but has since become defunct as a result of the hack and there is an ongoing court case in which victims are trying to recover some of the stolen funds.
Now, some good news might be on the horizon as a Russian law firm called Zheleznikov has stated on September 12, 2019, that action can be taken that will enable them to recover 200,000 bitcoins of the money that was lost in the exchange hack.
This plan was outlined during an interview with a BBC journalist where a representative for the firm stated that the money can be recovered which will be worth roughly $2 billion and will go a long way towards compensating the victims of the hack. According to them, this will work by taking legal action against Russian nationals who have received any of the stolen currency and it was also claimed that several of these individuals have already been identified.
“We want to make clear that we do not yet know the identities of all persons. We have strong reasons to believe that their identities will be revealed by the police investigation bringing existing information together, but we hope that once the criminal case starts they will come forward quickly and offer to give compensation to victims,” they said.
It should be noted, however, that the services being offered by the law firm will not be a cheap one as they intend to charge creditors up to 75 percent of all recovered funds but have stated that no payment will be charged unless their efforts are successful. Either way, this will be a rather interesting perspective into one of the most devastating cryptocurrency exchange hacks that have happened in recent times.