Bitfinex to Buy Back $150 Million in Shares to Protect Hack Victims!

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iFinex, the owner of the Bitfinex exchange, has announced plans to buy back $150 million worth of shares to protect victims of the 2016 hack and gain greater control over the company’s dealings. The offer, which is available to shareholders who acquired iFinex stock through a 2016 swap with investment platform BnkToTheFuture, will account for approximately 9% of iFinex’s total outstanding capital and value the firm at $1.7 billion. Bitfinex has faced regulatory challenges in the past but has shown strong resilience during market volatility and secured a crypto exchange license in El Salvador earlier this year.