Bitcoin Forum

That's insane. They were forced to change their business rules after the Gox collapse, but this says a lot on how they operated, even back then. I would hope their operations changed a lot since the Gox collapse. I also wonder how much they lost on Gox, and have been running on a fractional exchange ever since?

Is this official statement from finex, that they have lost their bitcoins in gox collapse? And till now how bitifinex actually got hacked is not explained by bitfinex which is quite suspecious, or haven't they found how hacker got access to their funds. ::)

I also wonder how much they lost on Gox, and have been running on a fractional exchange ever since? I'm wondering this exact same things. Has anyone seen any sort of comment on this from Bitfinex in the past?

As time goes by, these "accidents" will get bigger and bigger (because the market is bigger). even core devs lost 1000s and more coins on MTGOX - that is shocking in my view.

It's always good to provide a source in an OP with a claim like that. Otherwise it's just words on the internet.

I agree with you, and I dont think in my own personal opinion, I owe anybody an explanation on how I keep my money or the money entrusted in my care what matters is that its safe and I can call for it anytime I deem it fit...

message from 2013 from bitfinex to a customer explaining half of bitfinex reserves were on MTGox

https://pbs.twimg.com/media/Co6Ely1XEAMjSbO.jpg

I cannot for the life of me, understand why these idiots will still have coins stored on MtGox. I would have thought most coins would be in cold

storage. If anyone still think it is a good idea to store coins on exchanges, they deserve to get their coins hacked. You either have full control over

your money, or you have no control.... Private keys should be in your possession, not with some 3rd party service.  ::)

Damn, i hope this is a fake image, if they did this, and plus 120k btc hacked, they will bankrupt, and then disappear? Definitely it will make btc price plummete again.

I wouldn't be surprised if they had half the coins in Mt.Gox because of the rapid trading and so that was happening on that site; because you have to keep in mind that there is no need for an exchange to have coins sitting there idle, and they are allowed to do whatever they want once you deposit. Chances are they had some folks doing rapid trading to make some money with high numbers of BTC.

As for Bitfinex's operating practices,  I don't know what they do, but if they were able to go from then until the hack without facing any scandals or anything, then they must have been doing something right.

What do people make of this? It seems like the problem could be much deeper. The problem is human error, being lazy. That's what killed Bitfinex. What they told the public and their actual op sec were 2 different things!

Well I can kind of excuse them on that. No big hacks had occurred at the time, and maybe the idea hadn't crossed their minds. (Although I do wonder what their security engineer was thinking  ;D)

Some of the Gox coins are due to be returned to their owners sooner or later. They will only get left over scraps compared to what they lost, but they will get something back if they put in a claim. Bitfinex might use the coins it gets back to help pay for its "hack".

I do not really understand the problems faced by them. but I do know mt GOX also stole thousands of bitcoin. and this case may seem similar. they say that they hacked? Who knows

wow. I never fail to be impressed by how incredibly stupid even the bitcoin old guard is. even the dumbest civilian arriving fresh to bitcoin in 2013 would've known gox was a toxic joke with a few minutes of research.