Bitfinex HACKED - funds stolen !

[dserrano5]

Well, it seems Zane has now confirmed that BTC holders and USD lenders who had funds tied to BTCUSD longs are taking a haircut.

Can you (or anyone else) cite a reference for this? Specifically the "longs" bit.

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[Gyrsur]

found this:

[JeffBrad12]

found this:

And when bitfinex is announced about getting hacked and at the same the statistic is drastically dropping and what happen with this? but the lettering is very small and I can't see about the explanation.

[mayax]

More than that, CFTC (U.S. Commodity Futures Trading Commission) warned and fined them for doing illegal tradings:

"During the Relevant Period, Bitfinex did not actually deliver bitcoins purchased on a leveraged, margined, or financed basis to the traders who purchased them within the meaning of Section 2(c)(2)(D)(ii)(III)(aa) of the Act. Instead, Bitfinex held the purchased bitcoins in bitcoin deposit wallets that it owned and controlled.

Instead, Bitfinex held the purchased bitcoins in bitcoin deposit wallets that it owned and controlled."

Instead of actually distributing bitcoins to/from each individual's wallet at the time of a trade, they simply updated ledgers in their database while bitcoin was held offline in cold storage. Then, they maintained a small hot wallet to handle daily withdraws.

https://i.imgur.com/O46UNix.jpg

This is literally exactly what the CFTC forced them to stop doing.

So, CFTC warned that Bitfinex is doing illegal tradings but the people continued to use them.  

Oh, wait ! CFTC is US gov and this one is bad and they want you to be poor.  LOL     Now, deal with Bitfinex shit and their friends from Bitgo.    Most of the exchangers are doing the same.

See: BTC-e, Kraken, Poloniex and all the chinese exchangers.

Wrong, CFTC didn't like the way how Bitfinex managed customer funds ( by having a cold wallet managing it) , CFTC told Bitfinex customers needed to posses ownership once they buy Bitcoins intead of using a general cold wallet, Bitfinex got fined for this and changed the security process as recomended by CFTC, then Bitfinex is hacked.

Please read again what I am saying :

 Bitfinex has partnered with BitGo  a  YEAR ago (June 04, 2015) !  CFTC warned against Bitfinex a MONTH ago and their investigation has started in Oct. 2015 so long time AFTER Bitfinex has partnered with BitGo.

So, Bitfinex changed their "security" process BEFORE  CFTC started the investigation against them.

[synthgauge]

Will there be a haircut for users that didnt short or long but simply stored money? Any updates, ETAs on the future route? When will I get my money back?

[Gyrsur]

Will there be a haircut for users that didnt short or long but simply stored money? Any updates, ETAs on the future route? When will I get my money back?

probably, yes. BitScam want to stay in business so they are planing to socialize the losses amongst the userbase.

better you consult a good lawyer!

this Scam deserves to die!

[synthgauge]

Will there be a haircut for users that didnt short or long but simply stored money? Any updates, ETAs on the future route? When will I get my money back?

probably, yes. BitScam want to stay in business so they are planing to socialize the losses amongst the userbase.

better you consult a good lawyer!

this Scam deserves to die!

Sounds like u think its ready to go the cryptsy road. Insolvency? I think it would remain solvent long enough to reopen and let everyone withdraw their remnants. If the cut be like 10% of bitcoin equivalent of whatever portfolio u have there, im fine with that. I got a tiny amount tied in, but want the rest of my money out no matter what.

[Gyrsur]

Will there be a haircut for users that didnt short or long but simply stored money? Any updates, ETAs on the future route? When will I get my money back?

probably, yes. BitScam want to stay in business so they are planing to socialize the losses amongst the userbase.

better you consult a good lawyer!

this Scam deserves to die!

Sounds like u think its ready to go the cryptsy road. Insolvency? I think it would remain solvent long enough to reopen and let everyone withdraw their remnants. If the cut be like 10% of bitcoin equivalent of whatever portfolio u have there, im fine with that. I got a tiny amount tied in, but want the rest of my money out no matter what.

10% really? if you find a way to have access to the place where 2-of-3 keys are stored then you will empty just 10% dream on!  

all BitScam actions until the "hack" are just for winning time. nothing else.

[mayax]

Will there be a haircut for users that didnt short or long but simply stored money? Any updates, ETAs on the future route? When will I get my money back?

probably, yes. BitScam want to stay in business so they are planing to socialize the losses amongst the userbase.

better you consult a good lawyer!

this Scam deserves to die!

good point.

more than that, Bitfinex socializes with their clients so that these ones to not file complaints against them. They want to look as "nice guys". This can be an inside job. It looks like that. it's hard to belive that someone would leave 60 mil USD worth of BTC  to be withdrawn just like that. really? Bitfinex are not novice...they just want to appear innocents

Go and file complaints against Bitfinex and Bitgo. Yes, Bitgo is involved too.  

[gentlemand]

If people did want to get legal on their ass where would they begin? As far as I can tell they're not really in Hong Kong any more, the employees are scattered all over the world and the servers are elsewhere too.

I wouldn't have a clue where to begin with that type of thing. As the US seems to have caused all this by forcing them to abandon cold storage, I assume someone knows where there's some jurisdiction.

[mayax]

If people did want to get legal on their ass where would they begin? As far as I can tell they're not really in Hong Kong any more, the employees are scattered all over the world and the servers are elsewhere too.

I wouldn't have a clue where to begin with that type of thing. As the US seems to have caused all this by forcing them to abandon cold storage, I assume someone knows where there's some jurisdiction.

again, nobody forced Bitfinex to abandon any shit storage. this is a pure manipulation.

Bitfinex has partnered with BitGo  a  YEAR ago (June 04, 2015) !  CFTC warned against Bitfinex a MONTH ago and CFTC investigation started in Oct. 2015, long time AFTER Bitfinex has partnered with BitGo.

So, Bitfinex changed their "security" process BEFORE  CFTC started the investigation against them. Nobody forced them to do anything.

You should start by hiring a lawyer in your Hong Kong and then file a complain with the local police(from HK).  This is the first step. Their companies are registered under a name/s . Do not worry. The police knows what to do and how to find them

Also, you may find other Bitfinex's clients and you can fill a class suit against Bitfinex owners

[155UE]

Will there be a haircut for users that didnt short or long but simply stored money? Any updates, ETAs on the future route? When will I get my money back?

probably, yes. BitScam want to stay in business so they are planing to socialize the losses amongst the userbase.

better you consult a good lawyer!

this Scam deserves to die!

Sounds like u think its ready to go the cryptsy road. Insolvency? I think it would remain solvent long enough to reopen and let everyone withdraw their remnants. If the cut be like 10% of bitcoin equivalent of whatever portfolio u have there, im fine with that. I got a tiny amount tied in, but want the rest of my money out no matter what.

I can see it going down the cryptsy road. It is following that suit to a tea from what happened to them. It took months to happen with them reassuring their customers everything is just fine while they were packing up the money and slipping out the back door to the plane to go to the Bahamas.
Their market price is still not up today.

[pereira4]

We need to replace exchanges that require centralization, but the problem is, how are you supposed to decentralize exchanges that work with fiat too? I don't see a solution for this.

[Pbitcoin]

Seems like moderators here taken some of those stolen funds and deny it because it came from another source during a giveaway via IRC at the same time that they were hacked.
They just don't know that they were the stolen funds. So they claim ignorance to get away with it.

[mayax]

Seems like moderators here taken some of those stolen funds and deny it because it came from another source during a giveaway via IRC at the same time that they were hacked.
They just don't know that they were the stolen funds. So they claim ignorance to get away with it.

name those moderators. the people should know who are they(the gang)

it would be good a "source"(link) if possible.

[QuestionAuthority]

I'm impressed, this is the sexiest company theft of bitcoins since MyBitcoin.com Tom Williams.

“From the desk of Tom Williams, operator of MyBitcoin.com.”

 “incident report”

MyBitcoin noticed a large amount of BTC missing we realized its security had been breached, and pulled the site immediately. After investigating the hack, we at MyBitcoin realized we were bankrupt and will have to go into receivership. There will be a claims process for reimbursing users.

ROFLMAO

[Gyrsur]

where are the updates from BitScam now?

[Leonard2016]

when are people using bitcoin going to learn their lesson. i am talking about both the people who are using these exchanges and the owners of these exchanges themselves. you have to take a lot more security measures when you have 120K bitcoin to worry about. it was gone in a blinking of an eye.

[mayax]

where are the updates from BitScam now?

The news are : Bitfinex says it may spread losses among users

“We are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions"

To Bitfinex clients : go and make complaints. Bitfinex will not give you the money back and they are buying valuable time now.

[Orion25]

where are the updates from BitScam now?

The news are : Bitfinex says it may spread losses among users

“We are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions"

To Bitfinex clients : go and make complaints. Bitfinex will not give you the money back and they are buying valuable time now.

No one will return nothing. It seems that the hacker who seemed to announce, not by itself. And their own people.