Bitfinex HACKED - funds stolen !

[pooya87]

i woke up this morning to see the price took a big hit in the face, i was down until i saw this topic and realized it is just panic selling because of the huge amount stolen!

ok my conspiracy theory. Is not necessary true, i maybe not believe it but has a value

Bitfinex the past last months has always problems and always was investigating different situations.
Anyone think that this "hacking" maybe is a simple an exit scam?

i wouldn't be surprised if this was the case, it has happened before with cryptsy. they had some problems (smaller ones) before they were "hacked"!

It wouldn't surprise me a bit if this was just finding a local bottom in forming another ascending pennant/triangle in the price.

I've found sanity in not looking at the price charts all day every day. Taking a peek from time to time is healthy.

seeing the price in the morning sometimes works better than all the coffee in the world to wake you up

you speculate, you analyze, .... and in the end expect the price to be at xyz dollars but you wake up and see it at $530 haha

[Windpower]

No wonder. The price at the moment is like 530 US. It is good for people who are wishing to buy Bitcoin, but obviously not for investors or traders. Let's hope the price goes back up. 

[justspare]

This has had a large effect on the price of Bitcoin as it has dropped about 20%. Hopefully it comes back to a stable $600 and everyone can get on with their lives.

[Darooghe]

Check out blocknet guys, they have a working decentralized exchange, you can trade between several altcoins and BTC at the monent.

Still in beta, but is working.

It will put an end to this shit.

Could you explain more? Where is download link of app?

[chaser15]

I don"t believe in such claims by Bitfinex even it's true and genuine. Good thing I pulled all my funds back when they have an emergency maintenance months ago. Once the site come back after that long maintenance due to some unexplanable reasons, I quickly pull out my funds and now I don't have regret because of this current problem.

[pooya87]

Check out blocknet guys, they have a working decentralized exchange, you can trade between several altcoins and BTC at the monent.

Still in beta, but is working.

It will put an end to this shit.

Could you explain more? Where is download link of app?

let me google that for you

lazy: their announcement

p.s. i am reading it myself too, i don't have any information on how it works but i find it interesting!

[talks_cheep]

How many coins were lost due to MtGox meltdown? 600K? If true, this is nothing. I think market is in over-reacting mode. Price will come back up. Bitcoin still has some appealing qualities, hard to see them at times like this.

Why would anyone trust a Chinese exchange in Hong Kong? Bfx has had problems all along, indications that were not hard to miss that they weren't too far from going under. Of course it's an inside job, the hacker is the owners/employees/staff. They got tired of running a scam site and decided to declare a hack and run with the money. If it walks like a duck, quacks like a duck, looks like a duck, it's a duck. Where you find smoke, there's fire. Been there, done that. Remember MtGox and Bitfinex, never forget.

[bitbunnny]

This with price fall was automatic reaction, I guess, maybe it was also done by purpose, but I hope everything will be back normal and price will again go up within the next couple of days.

[QuestionAuthority]

Another Exchange Bites the Dust by Queen

Dumbass walks warily down the street
With his brim pulled way down low
Ain't no sound but the sound of his feet
Bitcoins ready to go
Are you ready hey are you ready for this?
Are you hanging on the edge of your seat?
Out of the doorway the Bitcoins rip
To the sound of the beat yeah

Another one bites the dust
Another one bites the dust
And another coin gone and another coin gone
Another one bites the dust
Hey I'm gonna get you too
Bitcoiners bite the dust

[Schuyler]

And fuck this shit! Everytime bitcoin tries to go up a shitty exchange goes down taking the price down. Fuck fuck fuck!

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

There is some merit to keeping a peg between fiat and Bitcoin though, since there is a noticeable difference in the purchasing power of Bitcoin once the price swings. Bitcoin will almost never be a ubiquitous form of payment used by everyone, and fiat will have to have some hand in it at some point. Keeping track of the price drops and everything is definitely something that has to be paid attention to, and it will always be something that is important.

While there is a bigger picture out there, it doesn't have as much merit as reality and everything happening.

The reality is the average joe doesn't even care what happens with bitcoin. With that, things like this hacking are going to persist and take money away from those clients who didn't know better. For small investors like us, I think the best way to avoid this is not to keep large amounts of bitcoin on exchanges and always keep ourselves updated with security measures.

[chaser15]

SO, how can we get our ETC out of Bitfinex?

Then wait for the site to come up. Then go pullout all your funds there.

This kind of scenario will happen again so if all our lucky and the site goes back, pull out your funds with no hesitation.

[overthetop2011]

How many coins were lost due to MtGox meltdown? 600K? If true, this is nothing. I think market is in over-reacting mode. Price will come back up. Bitcoin still has some appealing qualities, hard to see them at times like this.

Why would anyone trust a Chinese exchange in Hong Kong? Bfx has had problems all along, indications that were not hard to miss that they weren't too far from going under. Of course it's an inside job, the hacker is the owners/employees/staff. They got tired of running a scam site and decided to declare a hack and run with the money. If it walks like a duck, quacks like a duck, looks like a duck, it's a duck. Where you find smoke, there's fire. Been there, done that. Remember MtGox and Bitfinex, never forget.

good speech, ppl should stay away any fishy exchanges.

[Fredomago]

SO, how can we get our ETC out of Bitfinex?

Then wait for the site to come up. Then go pullout all your funds there.

This kind of scenario will happen again so if all our lucky and the site goes back, pull out your funds with no hesitation.

so there's still possibility to come back even they been attack, is this one of the reason why btc is dropping down?
hope it can recover back and price of btc will bounce back again.

[leigh2k14]

Check out blocknet guys, they have a working decentralized exchange, you can trade between several altcoins and BTC at the monent.

Still in beta, but is working.

It will put an end to this shit.

Could you explain more? Where is download link of app?

Here's a link to the thread: https://bitcointalk.org/index.php?topic=829576.0

P2P decentralized exchange!

[sotisoti]

gox 2.0. RIP bitfinex...

[Searing]

my poll on what bitfinex may do on this

https://bitcointalk.org/index.php?topic=1573661.msg15797288#msg15797288


my bet is they don't cover the loss but still stay in business

[danherbias07]

gox 2.0. RIP bitfinex...

Thinking about this. What if they get back in business after this? Will they really cover the loss? They should if they want their supporters back right? Without paying up then I dont think trust will be back also.

[sotisoti]

gox 2.0. RIP bitfinex...

Thinking about this. What if they get back in business after this? Will they really cover the loss? They should if they want their supporters back right? Without paying up then I dont think trust will be back also.

Not sure if there is coming back if the company is hypothetically insolvent, we are talking about $60mil, that's a large sum of money..

[iv4n]

This is why price going down, some hackers robbed one more exchanger. From beginning I was reading here what higher members have to say. I remember first warning, don't stay your money on exchanger! Ever never! Well I didn't lost nothing there, and I don't have any coins on any exchanger.
People will never learn basic things, like with ponzi schemes. There will always sheeps in this world that will live others to cut their wool.

[Searing]

gox 2.0. RIP bitfinex...

Thinking about this. What if they get back in business after this? Will they really cover the loss? They should if they want their supporters back right? Without paying up then I dont think trust will be back also.

The problem with exchanges is it is NOT their money. Thus if hacked they can just fold and walk.

In other words for an exchange to be safe for every $1 in btc they would have to hold $1 in btc, but instead they rely on 'security' and
maybe hold 10% imho

thus if they are hacked they walk it is your risk (probably in the agreement to not let your crypto sit on their site after you exchange)

and go 'well we tried to have decent security oopsie"

and walk with the profits of the transaction fees etc that worked well for them before it all went poof