Price hits $10,000 on bitfinex | Bitcointalksearch.org

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: TERA on February 06, 2014, 06:57:21 AM

The news sounds very to the point in trader terms. It almost sounds as if it is from somebody at this forum.

Funny them admitting that their exchange is populated with 'rats'. I said that on this forum and got a very indignant reply from one of the exchange dev team. Of course, I did make it clear that I wasn't entirely sure if the rat's weren't indeed Bitfinex's own rats. Very serious allegations I was informed and then this....I bet some people are missing a whole lot of funds right now.

Damn, I am glad I listened to my gut and pulled my funds from there a few days ago....as a SHOTRER, I probably would have been one of the unlucky ones who got my entire capital wiped out and emptied into some rat's account by this rise to 10000 USD.

vokain

legendary

Activity: 1834

Merit: 1019

Quote from: TERA on February 06, 2014, 06:57:21 AM

The news sounds very to the point in trader terms. It almost sounds as if it is from somebody at this forum.

Giancarlo is typically very to the point

TERA

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Activity: 728

Merit: 500

The news sounds very to the point in trader terms. It almost sounds as if it is from somebody at this forum.

Sonny

hero member

Activity: 868

Merit: 1000

Quote from: blueberry on February 06, 2014, 05:51:36 AM

An announcement has been made by the Bitfinex Team in the main Bitfinex thread.

They are working on the issue.

Quote from: urwhatuknow on February 06, 2014, 05:34:50 AM

Dear Customers

the situation is under control.
No money or coins are missing and the problem was due to some malicious trader trying to play with the LTC ticker price in order to take advantage on us.
We are now reversing all transactions that took place on our platform during the time when all got messy (approx 7 a.m. GMT).

Very few transactions (for a total of 2,000 btc) actually took place on Bitstamp, only limited to the BTC/USD pair (Bitstamp doesn't trade LTC) and they actually took place at a price that was around 750 usd, so no big deal.
We enabled the trading engine for a few minutes and then switched it off again to avoid those rats (sorry I cannot think of a better word in this moment) to shuffle things even more and to make our work more difficult.
We keep an eye on the price and we can always enable it in the next minutes whilst we reverse trades that took advantage of the abnormality should the price get volatile.

The whole operation will not take anyway more than one hour.

Thanks a lot for your understanding and we deeply apologize for the inconvenience

Giancarlo
Bitfinex Team

Too bad...My trade has been reversed. Wink

blueberry

member

Activity: 110

Merit: 10

An announcement has been made by the Bitfinex Team in the main Bitfinex thread.

They are working on the issue.

Quote from: urwhatuknow on February 06, 2014, 05:34:50 AM

Dear Customers

the situation is under control.
No money or coins are missing and the problem was due to some malicious trader trying to play with the LTC ticker price in order to take advantage on us.
We are now reversing all transactions that took place on our platform during the time when all got messy (approx 7 a.m. GMT).

Very few transactions (for a total of 2,000 btc) actually took place on Bitstamp, only limited to the BTC/USD pair (Bitstamp doesn't trade LTC) and they actually took place at a price that was around 750 usd, so no big deal.
We enabled the trading engine for a few minutes and then switched it off again to avoid those rats (sorry I cannot think of a better word in this moment) to shuffle things even more and to make our work more difficult.
We keep an eye on the price and we can always enable it in the next minutes whilst we reverse trades that took advantage of the abnormality should the price get volatile.

The whole operation will not take anyway more than one hour.

Thanks a lot for your understanding and we deeply apologize for the inconvenience

Giancarlo
Bitfinex Team

cam02003

newbie

Activity: 47

Merit: 0

Have a bunch of money lend Sad

Scary if a bunch of people default Shocked

edit: Trading looks like its back up tho

TERA

hero member

Activity: 728

Merit: 500

Some small trades are ticking through now.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

bitcoinica 2.0

threecats

sr. member

Activity: 378

Merit: 250

Btfnx appears now to be completely frozen...?

TERA

hero member

Activity: 728

Merit: 500

Uhm they just deleted the position as if nothing happened. Sad

Mythul

sr. member

Activity: 644

Merit: 250

Wow. Such profits. Much risk. Bank or bust.

hyphymikey

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Activity: 784

Merit: 1000

Quote from: TERA on February 06, 2014, 02:25:34 AM

wow!

If you could only claim those profits!

TERA

hero member

Activity: 728

Merit: 500

wow!

TERA

hero member

Activity: 728

Merit: 500

DAFUQ?

Mythul

sr. member

Activity: 644

Merit: 250

Is this for real ? Bug or mega chooo-chooo already...

hyphymikey

hero member

Activity: 784

Merit: 1000

I think someone is doing this on purpose.

With the sell price being $10,000 you can deposit 1 coin and your "balance" will show $10,000. Meaning you can now use $10,000 (1 bitcoin) as leverage and take a loan out for $25,000. Buy LTC on margin, and play the swings margin trading. Use the cash you just made trading to buy LTC and withdraw automatically to your wallet….. Profit.

Have you not noticed the LTC volume? 135,000LTC just now.

But do this with many coins of course!

threecats

sr. member

Activity: 378

Merit: 250

update. the bid on btfnx is 303 at 829. just took a 29 btc hit and immediately replenished to 303. wish i had more to sell ...

threecats

sr. member

Activity: 378

Merit: 250

Very strange. That order did not take but two other ones did, one at 814 and another at 796, just 15 minutes ago.

threecats

sr. member

Activity: 378

Merit: 250

303 btc at 829 on stamp. i tried to trigger a buy, not working

btfnx actually.

gog1

hero member

Activity: 756

Merit: 500

well, you've a ask of $500 as well, looks like a technical glitch. The loan book looks somewhat stable.

Topic: Price hits $10,000 on bitfinex (Read 5652 times)