Reader's Opinion: Bitfinex "Beta" Platform Fails end Users... and Disappearing Support!
Just like the buying support in the Bitcoin marketplace, Bitfinex support disappears in times of crises. Consider this scenario, which actually happened to me a few days ago. You are trading on margin at Bitfinex, and on the correct side of the direction of the market... the price is falling and you have a target price set to buy, and your order is on the books. Your target price has passed on all the tickers... except your account doesn't update on your Bitfinex account information page, ... at all. You have no idea if your order was filled, or what your current position is, because it....
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Bitfinex may have legal troubles coming their way after socializing losses. It seems like Bitfinex has more to worry about than just the loss of 119,756 bitcoins to hackers. The platform recently announced that it will be generalizing the losses across all users. According to the exchange’s calculations, the generalized loss percentage is set at 36.067 percent. Meaning, all Bitfinex users will be contributing more than a quarter of their digital currency holding so that the ones who lost can be reasonably compensated at the moment. In return, the platform will be offering BFX tokens to....
A website BitfinexLawsuit.com is inviting Bitfinex customers to join them in a class action lawsuit against the cryptocurrency exchange. The recent hacking incident involving Bitfinex and the damage control measures taken by the exchange is already well-known. As the company continues to investigate the incident, a legal team seems to be preparing itself to file a class action lawsuit against the company. A website BitfinexLawsuit.com is inviting all Bitfinex customers to join hands and fight against the cryptocurrency exchange. Soon after the hacking incident, Bitfinex reported that 119,....
Crypto exchange Bitfinex is now venturing into TradFi with its latest launch of Bitfinex Securities. The new trading platform, as the name suggests, will allow companies to directly list tokenized versions of their shares, bonds, and other funds to raise capital. Bitfinex users will have access to buy and sell these tokenized securities. But similar […]
Coinetize, a micropayment service that pays in bitcoin, allows any website to accept payments for content. A key goal of the project, which is currently in private beta, is to free website content providers from having to compromise content quality with unattractive advertising that is often needed to monetize the content. Website visitors can purchase “Coinetize Credits” using either a credit card or bitcoin. Coinetize charges users a 1.8% fee. A website can allocate some of its pages to Coinetize to filter. Coinetize will only allow visitors access to those pages if the visitors have....
BitFinex has just been hacked. They lost their hot wallet to a malicious actor. However, due to security practices only a relatively minimal amount has been lost. BitFinex keeps over 99.5% of its customers deposits in secure multisig wallets, so only 0.5% at most was lost. BitFinex is a digital currency trading platform and states itself as currently in a beta phase (testing phase), though they have been in the market for a while now. They have a notable amount of trade and are considered by many to be one of the market leaders. Customers are being asked to cease depositing cryptocurrency....