Volume (24h)
$953.14
Recovery Right Tokens (RRT)
$ 0.74
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updated $0Market cap$0
Volume 24h$953.14
Recovery Right Tokens (ticker: RRT) are tokens issued by the Bitfinex cryptocurrency exchange to compensate creditors after a major security breach in 2016. Each RRT was designed to redeem one US dollar of losses once the exchange had fully recovered the lost funds. In simple terms, it's a digital IOU that only pays out if the platform manages to make its users whole again.
Frequently asked questions
What are Recovery Right Tokens and how do they differ from regular cryptocurrencies?
RRT are not a standalone cryptocurrency but compensation tokens tied to a specific event — the 2016 Bitfinex hack. Unlike Bitcoin or Ethereum, their value and purpose depend entirely on the exchange's recovery of lost funds and its obligations to creditors. They were distributed to affected users alongside BFX tokens, which could later be converted into equity of the exchange's operator.
How does the technology behind RRT work?
RRT were issued on the Ethereum network as ERC-20 tokens, so they rely on Ethereum's Proof-of-Stake consensus and smart contract infrastructure. The tokens function as a ledger of claims: redemption is only possible when the exchange confirms full recovery of the hacked funds. There is no independent mining or staking — the mechanics are controlled by the issuer.
How is the supply of RRT structured?
The total supply was capped at a fixed amount equal to the total losses from the hack, and no new tokens can be minted beyond that. Tokens were distributed pro rata to verified creditors of the exchange. Because the supply is finite and event-specific, RRT has no inflation mechanism or ongoing emission schedule.
How can I store or use RRT?
Since RRT is an ERC-20 token, it can be stored in any Ethereum-compatible wallet such as MetaMask, Ledger, or Trust Wallet. Its only practical use is redemption through the issuing exchange once recovery conditions are met, or trading on secondary markets where it's listed. Before doing anything, it's worth checking the issuer's current redemption status, as the token's utility depends on it.