Bitcoin Forum

I heard rumors that the bitfinex has been hacked which resulted in these panic sales

Its still a rumor for me until bitfinex confirms. What do you think guys ?

They didn't say anything about hacking for the moment :


Source : https://bitfinex.statuspage.io/

That's what I heard too. I have funds there.

Im hoping for the best and once it goes up again I will transfer my coins. I already sold my coins to other exchanges because if BFX will goes the same way as MTGOX, massive dumps will happen.

No choice but to wait. I have bitcoins there too.

I still believes for what is stated here : https://bitfinex.statuspage.io/

If ever the site will goes up, no second thought I will pullout my coins there.

stop FUD

https://twitter.com/bitfinex

I also did the same and sold 80% of my coins 30 minutes ago
No regrets on my decision. ATM I will keep my fiat money there to buy back if price rises

I withdrew my btcs from them successfully just a few hours ago before they went down again 8)
I don't think they are hacked
But either way, I am safe 8)

I don't think too in the first place. It's just that I have funds there that's why Im optimistic lol.

Hope it will get back on it's feet later as it will result for me to not make sleep the whole night.

Check out the USD and BTC swap movements reported on BFXdata.com, shortly before they shut down for 'maintenance'.

https://bfxdata.com/swaphistory/totals (https://bfxdata.com/swaphistory/totals)

I have USD sitting on Finex.....and I am not feeling comfortable with that at all.

When bitcoin exchanges are having long issues this is always a possibility, perhaps they're doing damage control for something significantly more serious than just a datacenter outage. You really have to expect all kinds of things form bitcoin exchanges no matter how trustworthy they are. Those that "panic sold" might end up being the wise ones ebcause they managed to do so while there still was liquidity for a decently high price. If Bitfinex end up Goxing people it'd be a major blow to the price.

Tweets by @Bitfinex


What's this segregated wallet ?


Anyone to verify ?

By the way, btc is pumping back. Will it fall again ?

Finex are about the least trustworthy western exchange that there is.

That'd vary depending on how you look at it. They were caught doing many unethical things (example: https://redd.it/2t3iz5), yet people had put millions with them. They're entrusted with the money of many, but I wouldn't call them opbjectively trustworthy compared to other exchanges.

In my opinion , ETH actions drained from bitfinex causing this issue and BTC is not involving this issue.
Buy more BTC when the price is low
Waiting and see the bitfinex news

I am not sure it is drained.
I also can see that at least one of the hotwallett is almost empty, and there were some big transactions today. But it also could be a panic cashout. For example an attacker wouldn't cashout to poloniex coldwallet.

Bitfinex update

We believe that internal networking issues between our servers have been resolved, allowing us to reliably run the backend systems, including the trading engine. External connectivity issues remain, however, which may result intermittent unresponsiveness as our hosting provider continues to work on the problem. We will bring the system back up once again to allow people to cancel open orders for a period of 15 minutes before accepting new orders for matching.

u/zanetackett Several questions:

If price sharply drops due to thin order depth (but bounce soon) after resuming, and hit my liq. price, will the liquidation be executed?

How can I deposit more BTC into my account to lower my liq. price at present?

If such liquidation happens, how will you compensate your customers?

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[–]zanetackett 1 point 7 minutes ago
We are not going to liquidate anyone until the market stabilizes. We aren't going to dump liquidations on the market.

Your existing addresses are still fine to deposit to. Deposit to trading wallet and that would effectively lower your liquidation price.

Refer to point one.

There has been news like this about before, https://www.reddit.com/r/BitcoinMarkets/comments/2t3iz5/bitfinex_cso_phillip_g_potter_admits_to_trading/

So what if they have sold big amounts of bitcoins when price was high and now they are intentionally trying to cause panic sell to drop the price so they can buy back?

Instead of believing FUD spreaded to make the price even tank further, people should have a look at the twitter messages coming from Bitfinex. It's just a matter of hours before at most before Bitfinex is up and running again.

Bitfinex is up again. Trading will Start from 2:00 UTC
Expecting the recovery in the price

I think bitifinex has something to do with bitcoin price. price straight away jumped from 642$ to 682$ just now after the updates from bitifinex. maybe we can hope for more increase. everyone stay calm and be ready for a big jump.

There are so many gambling sites that seems to be hacked but that are the sites them self becaus they lost allot i think and just want to hack most of your bitcoins back.

Whew didn't able to make such moves before the price really hits the dipping point today. My minimizing the loss method has been wrecked for the first time. No choice but to hold again. Im still on profits with the current price today but it's even more if only I able to sold before the site have been down.

This is why centralized exchanges are ripe for failure.

Well, NOW they're hacked.   :-\

Perhaps they were noticing something suspicious when the exchange halted its trading engine in the previous times. And right now they are hacked. Coincidence?

So bitfinex pulled gox on us.

They first manipulated the price from 450 to 650 and now they dump like there is no tomorrow. This will be the final nail on bitcoin's coffin.

I guess that recent price rise had nothing to do with the halving.

definitely they are NOT hacked.


they dont have customer's deposits. that's why they are closed.

my guess is they lost them on margin trading or dodgy trading of some sort.  Either way,  once the tide goes out, they can't pay  so they invent a "hack".

It has been quite clear Bitfinex is a massive fraud from the beginning.  Anyone who didn't believe that is now finding out the truth.

TLDR;

No hack.  Just fraud. Either way, if you are a customer, your money is gone.

It's an easy assertion to make, but of course correlation does not prove causation.
Nonetheless, NOW they're hacked. :-\

And if *they* got hacked, with all the security layers they had in place, I really fear for the Bitcoin ecosystem. This is no MtGox rookie player.

It's one thing to assert the axiom that every system is hackable. But with digital money, if that means that every dollar in crypto is hackable, well that's not good for the use of said crypto.

Security breach and bitcoins stolen are confirmed by bitfinex in their post

http://blog.bitfinex.com/uncategorized/security-breach/

Not much about the extent of the incident though, I guess that's why the price is dropping. People should really move away from this crappy exchange, this is a MtGox waiting to happen.

Too late.

Do you even understand what you are saying here? So you think Bitcoin is dead again now right?

IT is reckoned that around 120K BTC were stolen.

Might not be dead, but it is dying. There's just really no denying that anymore. It's not going to die overnight, it will be drawn out just like we're already observing. It'll take a few months for people to come to grips with the market impact of yet another devastating hack and theft, but we're going waaaaaay down...again. Sorry, folks. The idea is cool, but it just cannot work in practice.

Yep. https://www.reddit.com/r/BitcoinMarkets/comments/4vtv1m/bitfinex_down_due_to_bitcoin_security_breach/d61oetn

Some things never change. And in this case, it's the things that will kill this experiment.

Well you're right, at the moment I read:
I knew that this is exactly like MtGox. At least they're a bit more open about it and reporting on the breach at the moment it happened. Hopefully that signals that the breach isn't that big.

Edit:
Oh wait Is that an official account?

It is dying is it? lol and who do you think you're talking to, someone that has not been around the block and made a small fortune from Bitcoin 'dying'. I get ya and there is nothing to see here.

Bitcoin isn't dying, miners are.  ::)

I guess you haven't been around long. Bitcoin has never 'recovered' just like that after such an event.

This is a complete clusterf*ck for the entire bitcoin economy and it's going to be a very close call whether or not the entire network will survive this.

Anyone believing this was a "hack" and not just another scam in the bitcoin world has lost his marbles.

Hey...Bitcoin is currently trading at $37 above the miners break even point for running their mining farms, just after a $200 drop within 48 hours....

......everything wil be just fine, I am sure.



So, when Finex comes back online......DUMP or PUMP!?

Whatsitgonnabe?

119,765 BTC stolen

tchoh....the market will absorb that no bother......barely a fraction of the BTC that the miners have hoarded for dumping in the widely touted$1K + post Halving Event prices.

The market will just absorb 1% of the entire supply being stolen as if it didn't happen? I highly doubt it, maybe in Unicorn Land... Though that's where many people here seem to live anyway.

Better get that sarcasm detector fixed ;)

I withdrew my bitcoins from Bitfinex over a year ago.  There's something just so uncomfortable about leaving a decentralized currency in the hands of a couple of people who can either be hacked, or 'hack' themselves and run off with the coins.

It's not really safe to keep those Bitcoins in an exchange, that has been said over and over but there are people who keeps them there and it just tempting for the site owners if they see a lot of zeros stored in their. Not blaming anyone here but lets not give them the reason to run away with our coins. Even the good guys will turn their back when they see an opportunity to earn easy money and remain anonymous.

You can't blame them. How can you do such trades if you will regularly pullouting your funds. An active trader needs to put all his trading funds in an exchange so that they won't be late when there is a price rally.

For storage that's not an option but for a regular traders it's a must.

Well that is actually right you must have funds all the time so you can easily do trades whenever your coins are flactuating and if you regularly pulling it out well i think you cannot earn money with it and might you will lose or miss the pump and dump, and theirs nothing wrong on having a balance on exchangers the very wrong thing happened their is if you make it your wallet and stored all your bitcoins their and that thing might compromise us if the exchanger get hack just like what happen now in bitfinix