It was certainly a difficult situation, I'm feel sorry for people who lost money on it. I hope that the exchanges learn from these mistakes, so that way it does not occur again in the future.
Me too, its difficult to know which exchanges to trust - so I've spread my trades across a few and send all my spare BTC to cold storage - and made sure I have ultra strong passwords and not repeating them across any sites. You can never be too safe in the world of BTC. 
Topic: Bitfinex HACKED - funds stolen ! - page 3. (Read 32184 times)
It was certainly a difficult situation, I'm feel sorry for people who lost money on it. I hope that the exchanges learn from these mistakes, so that way it does not occur again in the future.
Giving everyone shares in Bitfinex to cover their losses is actually a great idea, if you are Bitfinex directors and existing shareholders.
The mechanism they have gone for gives an incentive to everyone affected to keep using the exchange and promoting it to friends and thus avoids the potential for a run on the exchange.
It doesn't fix the underlying problems, so in time everyone will be able to own a piece of Finex.
The mechanism they have gone for gives an incentive to everyone affected to keep using the exchange and promoting it to friends and thus avoids the potential for a run on the exchange.
It doesn't fix the underlying problems, so in time everyone will be able to own a piece of Finex.
Yes, this is true, but this is not the main problem. The problem is the lack of transparency. It doesn't help out to own a piece of something that you can't get information about. There are BIG questions unanswered, like: How the hack occured?
And promoting something that you don't trust, for your own benefit, is morally wrong. If we don't know how the hack occured, we don't know that it will not happen again.
So, until we have the full story about this "hack", I maintain my position of not trusting Bitfinex.
what is amazing is that their clients didn't sue them
it's unbelievable. I know people who lost over 40% from their funds. Yes, they got those shit tokens but they had to sell them for 0.30. Bitfinex is a scam and illegal company which is continuing its shit business without any problem. 70 MIL USD disappeared and it seems that it's OK ! LOL
And bitfinex says they haven't established the cause of the hack; I smell a rat here;
http://www.coindesk.com/bitfinex-most-user-funds-offline/
http://www.coindesk.com/bitfinex-most-user-funds-offline/
Are you surprised? It was an inside job like at Cryptsy. I wonder this exchange is still in business, though their trade volume keeps going down. Sell their IOUs, withdraw everything and stay away.
Yeah right. An inside job was the most probable cause, I believe. Who else know the mechanics of the company more than anyone? Of course someone who is employed by them. Too bad.
Giving everyone shares in Bitfinex to cover their losses is actually a great idea, if you are Bitfinex directors and existing shareholders.
The mechanism they have gone for gives an incentive to everyone affected to keep using the exchange and promoting it to friends and thus avoids the potential for a run on the exchange.
It doesn't fix the underlying problems, so in time everyone will be able to own a piece of Finex.
The mechanism they have gone for gives an incentive to everyone affected to keep using the exchange and promoting it to friends and thus avoids the potential for a run on the exchange.
It doesn't fix the underlying problems, so in time everyone will be able to own a piece of Finex.
Yes, this is true, but this is not the main problem. The problem is the lack of transparency. It doesn't help out to own a piece of something that you can't get information about. There are BIG questions unanswered, like: How the hack occured?
And promoting something that you don't trust, for your own benefit, is morally wrong. If we don't know how the hack occured, we don't know that it will not happen again.
So, until we have the full story about this "hack", I maintain my position of not trusting Bitfinex.
Giving everyone shares in Bitfinex to cover their losses is actually a great idea, if you are Bitfinex directors and existing shareholders.
The mechanism they have gone for gives an incentive to everyone affected to keep using the exchange and promoting it to friends and thus avoids the potential for a run on the exchange.
It doesn't fix the underlying problems, so in time everyone will be able to own a piece of Finex.
The mechanism they have gone for gives an incentive to everyone affected to keep using the exchange and promoting it to friends and thus avoids the potential for a run on the exchange.
It doesn't fix the underlying problems, so in time everyone will be able to own a piece of Finex.
I was a big supporter of Bitfinex and I personaly brought 30+ users to the exchange through my thread in a local board, where I explained and answer questions about how the exchange work, how you can short BTC, open and close positions, borrow money, etc, etc... It is true that the referral bonus was nice too, but I honestly belived in this exchange.
The first sign for me that thing are not as they appear to be (to be more precise, I first started to think that if they make a mystake, they will not take responsability for it, but try to blame anyone else), was when they messed up the code and a lot of users lost a lot of money because the server was lagging and when trying to close a position (by pressing the close button), what the exchange did, was to open and close the same position multiple times. They caled this "order stacking" and blamed the user for pressing the close button multiple times. In that moment I withdrew most of my funds and warn everyone to be very carefully with Bitfinex.
Now, I advise everyone to stay away from Bitfinex. I'm sorry for everyone that lost money because of the so called "hack".
The first sign for me that thing are not as they appear to be (to be more precise, I first started to think that if they make a mystake, they will not take responsability for it, but try to blame anyone else), was when they messed up the code and a lot of users lost a lot of money because the server was lagging and when trying to close a position (by pressing the close button), what the exchange did, was to open and close the same position multiple times. They caled this "order stacking" and blamed the user for pressing the close button multiple times. In that moment I withdrew most of my funds and warn everyone to be very carefully with Bitfinex.
Now, I advise everyone to stay away from Bitfinex. I'm sorry for everyone that lost money because of the so called "hack".
And bitfinex says they haven't established the cause of the hack; I smell a rat here;
http://www.coindesk.com/bitfinex-most-user-funds-offline/
http://www.coindesk.com/bitfinex-most-user-funds-offline/
Are you surprised? It was an inside job like at Cryptsy. I wonder this exchange is still in business, though their trade volume keeps going down. Sell their IOUs, withdraw everything and stay away.
Cryptsy kept running for a year and a half after it was hacked, and Gox kept running for years after its hack. Bitfinex might keep on running on low volume for a long time, or it might rapidly close. Whatever it does I'd stay away from it.
I'm also keeping well clear of bitfinex. I created an account but never deposited anything to it. Very glad I didn't now.
If Bitfinex can't establish what the vulnerability was that led to the hack there's nothing to stop it getting hacked again. It can't fix holes in its system if it can't even figure out what the holes were.
And bitfinex says they haven't established the cause of the hack; I smell a rat here;
http://www.coindesk.com/bitfinex-most-user-funds-offline/
http://www.coindesk.com/bitfinex-most-user-funds-offline/
Are you surprised? It was an inside job like at Cryptsy. I wonder this exchange is still in business, though their trade volume keeps going down. Sell their IOUs, withdraw everything and stay away.
Cryptsy kept running for a year and a half after it was hacked, and Gox kept running for years after its hack. Bitfinex might keep on running on low volume for a long time, or it might rapidly close. Whatever it does I'd stay away from it.
I'm also keeping well clear of bitfinex. I created an account but never deposited anything to it. Very glad I didn't now.
Glad that I completely moved funds from Bitfinex to CEX.IO before all this happened. And as cex offers 0% fee for makers now, I'll stay here, at least for some time.
Until they have enough funds on their books from all the greedy people that doesnt want to pay the small meaningless fees.
it is only the "makers" fee which is zero while the "takers " fee is still the old 0.2% there. and this small meaningless fees become a lot if you are not trading with 0.01BTC capital. for those big traders with larger volumes this is going to accumulate to a considerable amount.
And bitfinex says they haven't established the cause of the hack; I smell a rat here;
http://www.coindesk.com/bitfinex-most-user-funds-offline/
http://www.coindesk.com/bitfinex-most-user-funds-offline/
Are you surprised? It was an inside job like at Cryptsy. I wonder this exchange is still in business, though their trade volume keeps going down. Sell their IOUs, withdraw everything and stay away.
Cryptsy kept running for a year and a half after it was hacked, and Gox kept running for years after its hack. Bitfinex might keep on running on low volume for a long time, or it might rapidly close. Whatever it does I'd stay away from it.
Glad that I completely moved funds from Bitfinex to CEX.IO before all this happened. And as cex offers 0% fee for makers now, I'll stay here, at least for some time.
I am glad that you could get your funds out of reach of those people, to me this seems a scam of major proportions.
Glad that I completely moved funds from Bitfinex to CEX.IO before all this happened. And as cex offers 0% fee for makers now, I'll stay here, at least for some time.
Until they have enough funds on their books from all the greedy people that doesnt want to pay the small meaningless fees.
it is only the "makers" fee which is zero while the "takers " fee is still the old 0.2% there. and this small meaningless fees become a lot if you are not trading with 0.01BTC capital. for those big traders with larger volumes this is going to accumulate to a considerable amount.
Glad that I completely moved funds from Bitfinex to CEX.IO before all this happened. And as cex offers 0% fee for makers now, I'll stay here, at least for some time.
Until they have enough funds on their books from all the greedy people that doesnt want to pay the small meaningless fees.
Glad that I completely moved funds from Bitfinex to CEX.IO before all this happened. And as cex offers 0% fee for makers now, I'll stay here, at least for some time.
And bitfinex says they haven't established the cause of the hack; I smell a rat here;
http://www.coindesk.com/bitfinex-most-user-funds-offline/
http://www.coindesk.com/bitfinex-most-user-funds-offline/
Are you surprised? It was an inside job like at Cryptsy. I wonder this exchange is still in business, though their trade volume keeps going down. Sell their IOUs, withdraw everything and stay away.
And bitfinex says they haven't established the cause of the hack; I smell a rat here;
http://www.coindesk.com/bitfinex-most-user-funds-offline/
http://www.coindesk.com/bitfinex-most-user-funds-offline/
and their clients are saying NOTHING. They are happy with that. No lawsuit...
This puts a lt of newbies and other lay people off bitcoin because they feel vulnerable that their funds can be easily stolen, especially those who are not very tech savvy. This is such a shame really and this hacking was responsible for the latest price drop in bitcoin.
This is a simple fraud. And not without exchange control. Someone received a good money. 
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