Topic: [2016-08-05]Hacked bitcoin firm plans to spread losses across all users (Read 300 times)
August 06, 2016, 12:56:24 PM
"Some users who were not hacked will feel angry at having to stump up their funds to cover shortfalls elsewhere on the exchange. Whether it's the right decision or not - time will tell," he added. "Other exchanges have funded the losses off their own book - but then the losses weren't so extreme."
August 06, 2016, 07:47:44 AM
The bitcoin exchange Bitfinex has said it is considering sharing losses among all its users after around $70 million worth of bitcoin was stolen earlier in the week.
"We are still working out the details so nothing is set in stone, however we are leaning towards a socialized loss scenario among bitcoin balances and active loans to (bitcoin/dollar) positions," the Hong-Kong based company said on its website on Friday.
Bitfinex revealed it had been hacked on Tuesday and suspended trading, causing prices of the digital currency to fall significantly. A total of 119,756 bitcoins, worth $68 million at current prices, were reportedly stolen as a result of a security breach.
The company added in its latest statement that nothing had yet been decided and it was still settling positions and account balances.
http://www.cnbc.com/2016/08/05/hacked-bitcoin-firm-plans-to-spread-losses-across-all-users.html
"We are still working out the details so nothing is set in stone, however we are leaning towards a socialized loss scenario among bitcoin balances and active loans to (bitcoin/dollar) positions," the Hong-Kong based company said on its website on Friday.
Bitfinex revealed it had been hacked on Tuesday and suspended trading, causing prices of the digital currency to fall significantly. A total of 119,756 bitcoins, worth $68 million at current prices, were reportedly stolen as a result of a security breach.
The company added in its latest statement that nothing had yet been decided and it was still settling positions and account balances.
http://www.cnbc.com/2016/08/05/hacked-bitcoin-firm-plans-to-spread-losses-across-all-users.html
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