The organization that ran the dive has referred to the five victims of the Titan submarine as "true explorers."
According to a statement from OceanGate, the men "shared a distinct spirit of adventure".
The US Coast Guard believes that the guys perished in a catastrophic implosion.
On Thursday, five pieces of the submersible were discovered around 1600 feet from the Titanic wreck's bow. The thing had vanished on Sunday.
Stockton Rush, the 61-year-old CEO of OceanGate, British-Pakistani businessman Shahzada Dawood, 48, and his son Suleman, 19, as well as 58-year-old British businessman Hamish Harding were among the men on board the sub.
Paul-Henry Nargeolet, a 77-year-old explorer and veteran diver in the French navy, was the sixth person on board.
Rear Admiral John Mauger of the US Coast Guard stated during a news conference on Thursday that the wreckage is thought to be consistent with the Titan submarine.
What caused the Titan to be destroyed is unknown.
After the ship vanished, there was a large multinational search that included US, Canadian, British, and French efforts.
OceanGate expressed its gratitude for "their commitment to finding these five explorers, and their days and nights of tireless work in support of our crew and their families" in a statement.
Richard Garriot, the president of the US-based Explorers Club, of which Mr. Harding and Mr. Nargeolet were members, was one among many who paid their respects after the announcement.
He added in a statement that the organization is "heartbroken" and that the men's memories "will be a blessing and will continue to inspire us in the name of science and exploration".
In a "most horrific way," according to dive expert David Mearns, he lost two companions, Mr. Harding and Mr. Nargeolet.
"Hamish Harding was a terrific character," Mr. Mearns said, adding that Mr. Nargeolet was "almost a legend really" in the world of deep sea exploration.
A remote-controlled underwater search vehicle (ROV) discovered the debris 1,600 feet (480 meters) from the Titanic's wreckage.
Authorities were able to confirm their Titan origins thanks to the discovery of separate parts, including a tail cone.
When and what might have caused the implosion are unknown.
When asked if it was likely that the five men on board's bodies would be found, Rear Adm Mauger responded he didn't know the answer.
He said, "Down there on the seafloor, this is an extraordinarily cruel environment.
Rear Adm Mauger stated that ROVs will stay in the region as the investigation into what transpired progresses.
The employees involved in the search, including medical professionals and technologists, will start to disperse.
Authorities said earlier this week that Canadian planes had discovered underwater sounds, which some experts speculated would have indicated that the passengers of the sub were still alive.
Now, according to the Coast Guard, there was no relationship between the noises and the spot where the Titan's wreckage was discovered on the ocean below.
Source: BBC
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