Trading Firm CEO: Bitcoin Has Emerged Stronger From Bitfinex Hack
Since the Bitfinex hack, bitcoin capital markets have shown resilience and pricing risk is more realistic, according to Gavin Smith, CEO of trading and financial services firm First Global Credit, who offered a positive assessment of the post-Bitfinex environment at the recent Capital Markets Blockchain Conference in London, reported Finance Magnates. Smith gave a summary on how his company and others have reacted to the Bitfinex hack. Market participants took collateral not required to fund existing hedge positions and put it in cold storage. Rates on BTC have since improved, but they are....
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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.....
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.....
$3.6 billion or 94,643.29 bitcoin stemming from the 2016 Bitfinex hack was moved and consolidated into a single wallet following 23 transfers. At the time of writing, the $3.6 billion in bitcoin remains idle and the trading platform Bitfinex says it “continues to work globally with law enforcement agencies” in regard to the matter.
More Than 79% of the 2016 Stolen Bitfinex Bitcoin Moves Into 1 Address
On February 1, 2022, stolen Bitfinex bitcoins were transferred to a wallet and after 23 transactions the wallet held approximately 94,643.29 BTC. The....
Bitfinex has revealed more information concerning the investigation of the hack that took place on August 2. The exchange explains the company’s initial efforts to identify the hackers and the next steps for the business moving forward. Bitfinex Hires Ledger Labs and Drops BitGo Services. The Hong Kong-based cryptocurrency exchange Bitfinex is back up....
On Wednesday, after bitcoin prices touched a new all-time high, thousands of bitcoins from the August 2, 2016, Bitfinex hack were transferred to unknown wallets. The exact count of BTC moved from the hack is not entirely clear, but one blockchain parser shows that over 12,208 BTC from the 2016 Bitfinex breach worth $754 million today was moved to various addresses. On August 2, 2016, the exchange Bitfinex was hacked for approximately 119,756 BTC, which is worth $7.5 billion using today’s exchange rates. That day, the price per bitcoin (BTC) slid 22% but the exchange managed to pay....