Bitfinex HACKED - funds stolen ! - page 11.

gentlemand

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Quote from: botany on August 10, 2016, 11:36:36 AM

Would that mean surrendering your rights to get back your money?

That seems to be the consensus. People with legal advisers have been told that if they accept them then they're also absolving Bitfinex of paying them back any further.

And this line is from Bitfinex regarding them - By transferring a token to another person, all transferors thereby assign to the respective transferees any claims that the transferor has against the Bitfinex Group on account of the Losses.

botany

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Quote from: leen93 on August 10, 2016, 09:20:09 AM

Any idea what BFXUSD will be?
I might just sell all my BFX and say byebye to this shit

Would that mean surrendering your rights to get back your money?
If the discount is large, not many people would go for this option.

gentlemand

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Quote from: mitache365 on August 10, 2016, 11:20:59 AM

just wait to see how bitfinex token is going over 1 USD. customers will get a refund and bitfinex will make some more money!

What incentive would a non bagholder have to buy it? I find it bizarre how they've rolled it out without being clear about timings and obligations. No one knows enough about it.

I suppose that never stopped brainless pump and dumpers before. For those who lost out's sake I hope it does go the moon for no particular reason.

mayax

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Quote from: mitache365 on August 10, 2016, 11:20:59 AM

just wait to see how bitfinex token is going over 1 USD. customers will get a refund and bitfinex will make some more money!

if the people will still use Bitfinex, they are really idiots and they will deserve to lose all their funds

mitache365

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just wait to see how bitfinex token is going over 1 USD. customers will get a refund and bitfinex will make some more money!

gentlemand

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Quote from: leen93 on August 10, 2016, 09:20:09 AM

Any idea what BFXUSD will be?
I might just sell all my BFX and say byebye to this shit

Some people on r/bitcoinmarkets are reporting that it's already trading before their eyes. Maybe they've let in some of their pet whales early or something.

Roboabhishek

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Quote from: mayax on August 10, 2016, 09:53:54 AM

Quote from: Sidas_Crew669 on August 10, 2016, 08:17:06 AM

Quote from: johnnyyash on August 10, 2016, 07:32:45 AM

-sni-

no investors with a little brain will invest in a shit. you can open your own exchanger(starting from zero) with few millions. you don't need trying to repair what it cannot be repaired. Bitfinex shit will sink slowly.

who will invest in the Raphael Nicolle's ass? what for? Bitfinex worth zero as brand, it will take years to gain the clients trust again.

100% correct rarely someone will now invest in the bitfinex or we can say trade there after the disaster which took place of 65 M$.

I was lucky enough to leave bitfinex around march otherwise I would also been in the list of people who lost money on the site Undecided

mayax

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Quote from: Sidas_Crew669 on August 10, 2016, 08:17:06 AM

Quote from: johnnyyash on August 10, 2016, 07:32:45 AM

Hope due funds will be returned back...cause it will mean a great loss..

It might be able to do bitfinex, when bitfinex get loan from an investor or company that works with bitfinex. This may be harmful, but this isn't likely to happen if the bitfinex gives only a false confession (confess because of the hacking exposed)

no investors with a little brain will invest in a shit. you can open your own exchanger(starting from zero) with few millions. you don't need trying to repair what it cannot be repaired. Bitfinex shit will sink slowly.

who will invest in the Raphael Nicolle's ass? what for? Bitfinex worth zero as brand, it will take years to gain the clients trust again.

mayax

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Quote from: leen93 on August 10, 2016, 09:20:09 AM

Any idea what BFXUSD will be?
I might just sell all my BFX and say byebye to this shit

it will be some numbers on your screen(a new e-currency). the value will be given demand. imagine that most of the Bifinex clients will want to get rid of these useless tokens so their value will be much lower than the initial one, 1 USD per token. even Bitfinex wans that their tokens to value almost 0 USD

leen93

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Any idea what BFXUSD will be?
I might just sell all my BFX and say byebye to this shit

Sidas_Crew669

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Quote from: johnnyyash on August 10, 2016, 07:32:45 AM

Hope due funds will be returned back...cause it will mean a great loss..

It might be able to do bitfinex, when bitfinex get loan from an investor or company that works with bitfinex. This may be harmful, but this isn't likely to happen if the bitfinex gives only a false confession (confess because of the hacking exposed)

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Quote from: johnnyyash on August 10, 2016, 07:32:45 AM

Hope due funds will be returned back...cause it will mean a great loss..

I doubt that will happen. It is not that easy to get up from that big lost. They are offering a lot including an unknown ticket which will be the first time in bitcoin. Ergh I have read too much it is getting stressful.

Quote

"The origins of Bitfinex start with a lesser-known exchange called Bitcoinica.

Bitfinex is essentially the reborn version of that earlier exchange, as it used its source code as a basis for its platform. Sources at the time indicate that it was less than a year after Bitcoinica's fall that Bitfinex opened for business."

gentlemand

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Quote from: pereira4 on August 10, 2016, 07:45:15 AM

I don't think the people that lost their money will ever get it back. Did anyone get their money back from Mt Gox? As far I know there is still a lot of money (in BTC) that hasn't even been traced now, they dont know where the gox coins are.

The difference between Gox and Bitfinex is that Gox lost everything in the mists. Bitfinex still holds a decent amount and all of the USD is untouched.

But check this - https://www.bitfinex.com/bfx_token_terms

The terms effectively say Bitfinex are taking an interest free loan out from their customers with little or no obligation or incentive to pay them back. There's no interest, dividend or equity.

I think it's going to get legal rather rapidly.

pereira4

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I don't think the people that lost their money will ever get it back. Did anyone get their money back from Mt Gox? As far I know there is still a lot of money (in BTC) that hasn't even been traced now, they dont know where the gox coins are.

johnnyyash

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Hope due funds will be returned back...cause it will mean a great loss..

QuestionAuthority

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Quote from: Soros Shorts on August 10, 2016, 12:15:28 AM

Quote from: QuestionAuthority on August 09, 2016, 11:34:00 PM

Quote from: Wind_FURY on August 09, 2016, 08:59:56 PM

Quote from: QuestionAuthority on August 08, 2016, 11:16:13 PM

When a bunch of white guys want to run their business out of Hong Kong you know somethings fishy.

Like Karpeles' set up when he ran MtGox. You have a point, maybe they were trying to circumvent some laws and regulations from their own country so that they could start operations more quickly. There is news that Bitfinex really does not have a license to operate. That should be a big warning to everyone and we should all avoid that site.

Yeah, that's what I mean. I don't trust people that can't run a business from their own country. Karpeles runs from France to Japan. Erik Voorhees runs from the US to Panama then Europe. It makes you wonder what they're running from.

Over-regulation? While there are plenty of good regulations in places like the US there are even more stupid ones that only serve to raise the barrier of entry for financial services startups. So companies like these move operations to locations where there is lack of regulation and customers suffer as a result.

Yep, that's right, customers do suffer as a result. Regulation and oversight are imposed because the lure of easy money has a very strong appeal.

Even with oversight crooked people still steal as much as they think they can get away with and not get caught. Some of the worst Bitcoin crimes have happened in "supposedly" strict jurisdictions. Trendon Shavers stole millions and millions of dollars in Bitcoin in the good ol US of A. His sentence was 18 months in prison with time served and a million dollar fine. He'll get out in a year and be siting on wallet addresses with millions of dollars in them. Erik Voorhees stole 2600 bitcoins in his FeedZeBirds scam in the US and ran an illegal security. He served no jail time and only paid a $50k fine. That's roughly $2 million stolen for a $50k fine. Pretty good deals for a "heavy regulation" country.

davis196

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Quote from: mayax on August 02, 2016, 04:30:31 PM

This illegal exchanger (https://www.bitfinex.com/) is hacked. 120K BTC was stolen(aprox 60 mil USD) !

http://www.coindesk.com/bitfinex-shuts-down-customer-bitcoin-stolen/

It's so funny when they write "The theft is being reported to — and we are co-operating with — law enforcement." What law enforcement when YOU are running an illegal forex company(without licenses) ?!?! Grin

They are liars and morons and full of vanity(they know everything, they are beyond any problem, they are GODS)...This vanity brought down almost all the exchangers.

That`s why the stolen funds can`t be returned or recovered.Because bitfinex isn`t legal and they didn`t

report the theft to the police.Are they doing to get any licenses?

I don`t think so. Sad

Roboabhishek

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Quote from: mayax on August 10, 2016, 03:49:43 AM

an interesting perspective if you have patience to read:

35emx395afKAKAr72VoePVbu3FJvxLPVny

39coweGgC8CPZ6hYL1BBEfc1zqbSfHsprW

The two Bitcoin addresses above are believed to be Bitfinex’s cold storage. They now have at least 125,424 XBT under their control. Pre-hack they had a total of 245,180 XBT. They lost 119,756 XBT; that amounts to a 48.84% loss.

The claimed haircut was 36.067% on all assets, which would mean that they had 332,038 XBT (119,756 XBT / 0.36067) total assets, worth $200.92 million at $604 XBT/USD. Total assets are all XBT, USD, LTC, ETH, and ETC customer deposits.

Let’s subtract the current cold storage holdings and the lost Bitcoin from 332,655 XBT.

332,038 XBT - 119,756 XBT (the hack) - 125,424 XBT (cold storage) = 86,857 XBT or $52.46 million @ $604 XBT/USD

At the time of the hack, $38 million was loaned out with $4 million of unused loans. Subtract $42 million from $52.46 million: $10.46 million. They have more in ETH alone. Bitfinex wants the community to believe that they essentially had zero customer USD, LTC, and ETC. That is obviously pure fiction.

So how did they calculate it? There are two reasons I believe this number is so low. Firstly, Bitfinex did not ButtFinesse themselves. Company funds used for lending in the USD, XBT, LTC, ETH, and ETC markets were not taxed. Secondly, some USD-holding US customers were not taxed: those using Synapse Pay were allowed to withdraw 100%.

Bitfinex is afraid of US-pound-me-in-the-ass prison, or a company-ending-fine from one of the many alphabet letter agencies in the US. The most likely scenario that a large amount of US customer funds were not taxed so that the fiction of segregated accounts could be preserved.

If Bitfinex believes that my math and accounting are incorrect, I challenge them to post financial statements and a detailed walk through of how the 36% tax rate was calculated. -

This is the main cause that the price of BTC has gone down from 750 to 530.

Now the bitfinex will pay for the loss to the users or will it walk away saying they were scammed so they can't pay for this loss ?

I stopped using Bitfinex on 23rd Feb so I can't predict what is happening :/

Shiroslullaby

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Have any technical details been released about the hack?
It's interesting that they were able to take a large amount but not all of the companys assets.
I guess this means that they were able to gain access to some addresses but not others?
At least the company had things segregated enough to prevent an entire loss, I suppose.

But it all seems suspicious. I feel like either it was an inside job, or an attack by someone really sophisticated-
government sponsored hacking team etc.
I wouldn't put it past some agency to pull off an attack like this. It would be a great source of revenue for black ops that they wanted to keep off the official books.

pbleak

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https://blockexplorer.com/address/3FbZrzjRNYvFjRkaqXckd7gq2trufGpB4d

Interesting process here. Coins move in chunks of 5k every two days or so. Seems trackable to someone dedicated enough.

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