Bitfinex Users to Lose 36%
Following the theft of ~$70Mn worth of bitcoins on 2nd August, Bitfinex has calculated how much each customer would stand to lose: 36%. Arriving at Assets of Each Customer. Bitfinex has cancelled all withdrawals, open orders and open funding offers. All financed positions were settled based on a published settlement price. Post this, the asset position of each customer has been finalized. Accounting complete. Bitfinex has finalized accounting for the losses incurred. After consultation, it has arrived at the conclusion that losses must be generalized across all accounts and assets. Each....
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Following the hack at Bitfinex, many people stand to lose money as the company spreads losses among users. A 36% haircut was announced, but some users claimed even bigger losses. American tax accountant Daniel Winters explains how the IRS could allow U.S. taxpayers to deduct their losses from the Bitfinex hack. Tax Deduction for Bitfinex Hack Victims.....
Prominent Hong Kong-based bitcoin exchange Bitfinex has announced that it has halted all trading on its platform while investigating a breach that has seen customers lose their funds due to theft. Bitcoin exchange Bitfinex has halted all trading on its platform, including all deposits and withdrawals. An announcement on its website has confirmed that Bitfinex users have had their bitcoins stolen, while the exchange investigates the security breach. No figures on the stolen bitcoin or the number of users impacted have been revealed yet. The statement read: We are investigating the breach to....
Bitfinex has announced that it is slowly getting back online after announcing to its users that they will lose 36 percent of their assets. Last week the Hong Kong-based bitcoin exchange suffered a security breach which saw $65 million worth of bitcoins stolen and the price of bitcoin plummeting 20 percent. It has since climbed back up nearing the $600 mark. In the announcement, Bitfinex said that they are beginning the process of bringing the platform online in a controlled and secure way. It said: Currently the site is available on a read-only basis as we continue to work towards enabling....
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....
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....