Topic: Bitfinex- bank blocked all their deposits - page 5. (Read 11055 times)
Just whenI thought they were getting their acts together, suddenly news like this comes out. Those who still have accounts with them might be getting pretty nervous and this might just be the right time to cut ties with them. This should serve as a warning to other exchanges and try as much as possible to tighten their securities and always be a step ahead of those trying to take advantage of them.
But the owners of Bitfinex are already known and their names were mentioned quite a few times. The hack of last year already made them targets for lawsuits from Bitfinex traders but none of them followed through. There was a funny thread with pictures of the owners on a yacht "going to the Bahamas". 
Oh my god, that is too funny. It's amazing how they taunt us with the wealth they stole from us.
Not so funny afterall. Most eary Bitcoin adopters (I'm talking about 2013-present day) know about these websites and how people got scammed by them. Whoever returns to the website after they got scammed.. I don't know what to say.
But newcomers, or say most of them, don't really check websites and so their volume doesn't get too low .. it increases instead, making it another good chance for the owners to simply scam a second time. Someone who scammed you will try to do it a second time too, sooner or later.
These guys are living with money people have lost because of their website. There are some people that even commited suicide because of the sums they have lost (those who had +100BTC deposited there) most probably.. not funny, I'd say.
But the owners of Bitfinex are already known and their names were mentioned quite a few times. The hack of last year already made them targets for lawsuits from Bitfinex traders but none of them followed through. There was a funny thread with pictures of the owners on a yacht "going to the Bahamas".
Oh my god, that is too funny. It's amazing how they taunt us with the wealth they stole from us.
..snip..
What do you mean? That all that is going on with Bitfinex is completely like what went on with MtGox? I believe not yet. There was a massive buying that catapulted the price of Bitcoin from a few hundred to over $1000. I hope we see it happen again.
What do you mean? That all that is going on with Bitfinex is completely like what went on with MtGox? I believe not yet. There was a massive buying that catapulted the price of Bitcoin from a few hundred to over $1000. I hope we see it happen again.
if you are talking about the 2013 gox price then it was "catapulted" from less than $200 to above $1100 in nearly 2 months.
and no one likes that to happen again unless you are a fiat fan and want to take your fiat out of bitcoin and give up on bitcoin.
But the owners of Bitfinex are already known and their names were mentioned quite a few times. The hack of last year already made them targets for lawsuits from Bitfinex traders but none of them followed through. There was a funny thread with pictures of the owners on a yacht "going to the Bahamas".
I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
Where ever they got the money from to cover the hacked funds, they will need to repay it and they are now millions in the hole. The easiest way for them to solve their problem is to Gox their way out. Are the owners of Bitfinex capable of doing such a thing? Mark Karpeles was. The owner of Cryptsy was.
Of course their capable. Do you think these unknown people running an exchange in Hong Kong are somehow more honorable than a French scammer that ran from his home country to Japan to run an exchange?
I do not mean overall but only in this instance. I believe all people are capable but it depends whether they have reached a tipping point.
By the way Bitfinex got the funds from a Bitcoin crowdfunding platform called Bnktothefuture in exchange for 25% equity of the company. But the terms are not shown to the public. If there is someone out there who can explain, please do.
Really? Now that's an interesting piece of info. Where did you find that out? If there's an ownership investor out there somewhere that means there's someone that can be sued if they can be identified.
I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
Where ever they got the money from to cover the hacked funds, they will need to repay it and they are now millions in the hole. The easiest way for them to solve their problem is to Gox their way out. Are the owners of Bitfinex capable of doing such a thing? Mark Karpeles was. The owner of Cryptsy was.
Of course their capable. Do you think these unknown people running an exchange in Hong Kong are somehow more honorable than a French scammer that ran from his home country to Japan to run an exchange?
I do not mean overall but only in this instance. I believe all people are capable but it depends whether they have reached a tipping point.
By the way Bitfinex got the funds from a Bitcoin crowdfunding platform called Bnktothefuture in exchange for 25% equity of the company. But the terms are not shown to the public. If there is someone out there who can explain, please do.
they have been fined for not registering their exchange they didn't have an about us page....their exchange was hacked...OMG!! i don't know why people still trust these people of bitfinex..bitfinex had done nothing for the bitcoin..shame!!!
You can't blame bitfinex because they are just a site that tried their best to serve other people who want to buy and sell bitcoin to their site. It is all fault of the hackers because they bypass the security and put a lot of damage for that site and now it is closing the bank deposits because they didn't have that strong security for their site and i think it is just best for them to close their site. 
they have been fined for not registering their exchange they didn't have an about us page....their exchange was hacked...OMG!! i don't know why people still trust these people of bitfinex..bitfinex had done nothing for the bitcoin..shame!!!
I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
Where ever they got the money from to cover the hacked funds, they will need to repay it and they are now millions in the hole. The easiest way for them to solve their problem is to Gox their way out. Are the owners of Bitfinex capable of doing such a thing? Mark Karpeles was. The owner of Cryptsy was.
Of course their capable. Do you think these unknown people running an exchange in Hong Kong are somehow more honorable than a French scammer that ran from his home country to Japan to run an exchange?
I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
Where ever they got the money from to cover the hacked funds, they will need to repay it and they are now millions in the hole. The easiest way for them to solve their problem is to Gox their way out. Are the owners of Bitfinex capable of doing such a thing? Mark Karpeles was. The owner of Cryptsy was.
I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
Now bitfinex won't get into trouble. They end up and start a new business. The users who deposited starting from small amount to get a good profit believing them to be a trusted platform hesitates to be a part of bitcoin as well using it for their needs. maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.
I am waiting for that flash dump via Bitfinex so I could get some cheap coins.
Then you are taking the risk of being Goxxed. I remember a time there were Wall Street traders who were willing to buy the Gox coins for more than a 50% discount. I do not know what happened to them now or if they made a good deal or not.
Check the wall observer thread.
There were a few guys bent on sending money and I'm pretty sure at least two of them we're laughing how they would make 4 digits profit from that move with all the "panicking".
It ended pretty bad.
Actually it ended the worst way possible.
Bitfinex is leading the prices right now and it is nearly 1300$ at the moment. This definitely smells like GOX to me. There are many sell walls on btc-e and bitstamp but they have to follow the leading price.
Considering that finex having many problems lately, I have to warn you guys. You might wanna keep some FIAT around nowadays.
Considering that finex having many problems lately, I have to warn you guys. You might wanna keep some FIAT around nowadays.
4 days later:
Bitfinex 1351
What do you mean? That all that is going on with Bitfinex is completely like what went on with MtGox? I believe not yet. There was a massive buying that catapulted the price of Bitcoin from a few hundred to over $1000. I hope we see it happen again.
it's hard to find a bank who can accept an unlicensed exchanger but even so, the correspondent banks is from USA.
Once a company is "banned" to use USD, nothing can't be made. The bank that the company is using,it can't do anything because the wires will be stopped before them
The speculation mills are running wild regariding this one and the only hurdle they are facing is that the banking providers were refusing incoming wire transfers and so they have to find an alternative service that would solve the issue and they will resume the practice as usual ,since bitfinex is a really huge exchange with huge volumes i hope it will be back to normal soon.Once a company is "banned" to use USD, nothing can't be made. The bank that the company is using,it can't do anything because the wires will be stopped before them
With Bitfinex things aren't going to be normal. Look at all the exchanges that are affected by the same type of problem, and then look at the difference in al the rates from these exchanges. Bitfinex price is bumped up badly because those that are willing to pay the premium don't trust that exchange anymore, and left as result. All other affected exchanges are just trading as they have always done -- no artificial increase nothing.
it's hard to find a bank who can accept an unlicensed exchanger but even so, the correspondent banks is from USA.
Once a company is "banned" to use USD, nothing can't be made. The bank that the company is using,it can't do anything because the wires will be stopped before them
The speculation mills are running wild regariding this one and the only hurdle they are facing is that the banking providers were refusing incoming wire transfers and so they have to find an alternative service that would solve the issue and they will resume the practice as usual ,since bitfinex is a really huge exchange with huge volumes i hope it will be back to normal soon. Once a company is "banned" to use USD, nothing can't be made. The bank that the company is using,it can't do anything because the wires will be stopped before them
I am waiting for that flash dump via Bitfinex so I could get some cheap coins.
Then you are taking the risk of being Goxxed. I remember a time there were Wall Street traders who were willing to buy the Gox coins for more than a 50% discount. I do not know what happened to them now or if they made a good deal or not.
Check the wall observer thread.
There were a few guys bent on sending money and I'm pretty sure at least two of them we're laughing how they would make 4 digits profit from that move with all the "panicking".
It ended pretty bad.
Actually it ended the worst way possible.
Bitfinex is leading the prices right now and it is nearly 1300$ at the moment. This definitely smells like GOX to me. There are many sell walls on btc-e and bitstamp but they have to follow the leading price.
Considering that finex having many problems lately, I have to warn you guys. You might wanna keep some FIAT around nowadays.
Considering that finex having many problems lately, I have to warn you guys. You might wanna keep some FIAT around nowadays.
4 days later:
Bitfinex 1351
it's hard to find a bank who can accept an unlicensed exchanger but even so, the correspondent banks is from USA.
Once a company is "banned" to use USD, nothing can't be made. The bank that the company is using,it can't do anything because the wires will be stopped before them
Once a company is "banned" to use USD, nothing can't be made. The bank that the company is using,it can't do anything because the wires will be stopped before them
Well I presume they will need to find another banking provider and that means a liquidity exchange crisis.
Easier said than done. It's not for nothing that banks and various financial services have cut ties with these exchanges. Mainly because of the fact that these exchanges aren't operating and registering their activities properly, and thus directly fit in a category of services to avoid. In that regard, think it will take a while before they find a solution to this.Where it really bites is the people on vacation who come back and see they have withdrawal lock issues online storage is always going to have a risk attached to it.
It's not that people go on vacation and completely forget about Bitcoin for a while. Everything can be done and followed through the internet in current times. If they want to move away from Bitfinex, people can just convert all their fiat to BTC, and cash out these coins to another exchange. If they for a while don't want to deal with exchanges anymore, then they can even *temporarily* make use of a reputable online wallet service to store their coins till they are home. Or they must have a laptop with them that will allow them to directly store their coins there. Plenty of options. 
I am waiting for that flash dump via Bitfinex so I could get some cheap coins.
Then you are taking the risk of being Goxxed. I remember a time there were Wall Street traders who were willing to buy the Gox coins for more than a 50% discount. I do not know what happened to them now or if they made a good deal or not.
They've now stepped it up, or down, a level https://arstechnica.co.uk/business/2017/02/hedge-funds-reportedly-want-to-buy-mt-gox-bankruptcy-claims/
They know they will make a good sum in the future. According to the article they hedge funds are paying the claimants 15% of the real value. The article also mentioned this
Quote
When the claims were lodged in 2014, the Mt. Gox trustees calculated their value using an exchange rate of just under $450 per bitcoin.
So that is 15% of the real value at a price of $450 per Bitcoin? That is a very bad deal for the claimants.
They take the risk and they offer a price that worths for them. They don't really care about the claimants.
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