Op-ed: Is Bitcoin Exchange Bitfinex in Trouble?
What exactly is bitcoin’s price? $1,174 as Coinbase is currently reporting, $1,211 as Bitfinex is saying or $1,028 as the Chinese exchanges are claiming? Normally, the arbitrage opportunity created gives us an answer within a day or two, but in this case, there may not be such easy answer as, although free money is up for grabs – some $40 per coin between Bifinex and Coinbase, while there’s a massive $200 opportunity between western and Chinese exchanges – no one is taking it. That suggests money can’t quite move. For Chinese exchanges, we know PBoC has forced them to halt withdrawals,....
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Today at the Money20/20 conference in Las Vegas, Bitcoin exchange platform AlphaPoint announced that Bitcoin exchange Bitfinex would begin using AlphaPoint's services to improve its backend technology. This news is huge for both AlphaPoint and Bitfinex, as well as all of Bitfinex's customers. The partnership will help Bitfinex manage their increasing volume and popularity as a Bitcoin exchange. Important Partnership. Bitfinex currently handles the third-highest volume out of all Bitcoin exchanges, so they should be considered a top exchange. This partnership is certainly a big move for....
On August 2, 2016, it has been reported that the major cryptocurrency exchange, Bitfinex, was hacked with some customers losing Bitcoin as a result. Additionally, BitGo has commented on the event. The Breach of Bitfinex. Bitfinex itself confirmed the hack in a press release earlier today, saying they have halted all trading on the platform. Additionally, all deposits to and withdrawals from Bitfinex have been temporarily stopped. The exchange does not have much information about the hack, but the press release confirmed that customers of the exchange have lost Bitcoin following the breach.....
Cryptocurrency exchange Bitfinex has asked its Ontario users to withdraw their funds since they will no longer have access to any services offered by Bitfinex in March.
Bitfinex Stops Providing Services to Ontario Customers
Crypto exchange Bitfinex announced Friday that it is making changes to the services it provides to Ontario customers.
Effective immediately, the firm said that “Ontario customers who do not have balances on the platform will have their accounts closed.”
In addition, those who do not have open positions in the....
More importantly, the question becomes what this investigation means for Bitfinex as a company, and their “legal gray area” shenanigans. It was only a matter of time until Bitfinex would get into legal trouble over their recent hack. One user in Massachusetts has filed a police report to recover his missing bitcoin funds. During the hack, nearly US$70m worth of Bitcoin were stolen, and no users were compensated. Instead, they all saw their balances punished even further to make up for the balance sheet losses. The way Bitfinex handled the whole hacking event was not exactly professional,....
Hong Kong’s lack of insolvency protection for companies makes a fate similar to MtGox more likely. Creditors, not Bitfinex, are the ones who get to decide whether to socialize losses. Socialized Losses? Not So Fast. Bitfinex, a bitcoin exchange based in Hong Kong, was hacked last week and suffered a loss of roughly $70M USD. The company appears insolvent....