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Bitcoin => Press => Topic started by: elyas772 on August 08, 2016, 03:10:45 AM



Title: [2016-08-08] Nasdaq : Bitcoin Exchange to Spread Losses of Hack
Post by: elyas772 on August 08, 2016, 03:10:45 AM
 Bitfinex, the digital-currency exchange that lost $65 million to hackers last week, plans to spread the losses among all its users, including those not directly affected by the hack.

The Hong Kong-based digital-currency exchange said in a statement Sunday that the losses from the theft would be shared, or "generalized across all accounts and assets" of its clients, with each taking a loss of around 36%.

"Upon logging into the platform, customers will see that they have experienced a generalized loss percentage of 36.067%," it said, adding that the company would soon share a fuller accounting of its computation of the losses. "This is the closest approximation to what would happen in a liquidation context."

http://www.nasdaq.com/article/bitcoin-exchange-to-spread-losses-of-hack-20160807-00046


Title: Re: [2016-08-08] Nasdaq : Bitcoin Exchange to Spread Losses of Hack
Post by: Kaneki on August 08, 2016, 07:28:59 AM
Bitfinex said it would give all affected clients a "BFX" token crediting each of their discrete losses. The token could be redeemed in full by Bitfinex or possibly exchanged, upon the creditor's request, for shares of iFinex Inc., the exchange's parent company.The company said it was talking to numerous potential investors about how to fully compensate its customers.


Title: Re: [2016-08-08] Nasdaq : Bitcoin Exchange to Spread Losses of Hack
Post by: yayayo on August 08, 2016, 12:09:57 PM
A 36% loss seems to be pretty low, considering the highly significant BTC outflow. The article reads like there is still some chance for full compensation, albeit I think it's not probable that Bitfinex will find investors that are willing to cover the outstanding amounts.

I neither think that the victims of the hack are well advised to acquire iFinex stock. Due to the hack, the brand is severely damaged and there's no trust in the security of the exchange. It will be very difficult to regain trust. Meanwhile the other exchanges will absorb the users and thereby enhance their liquidity. A recapitalized Bitfinex will have a hard time to compete with the other exchanges.

ya.ya.yo!