[Bitfinex Hacked] So , learned the lesson ?

[HaXX0R1337]

Once again , Bitfinex has been hacked and I just want to ask you people , have you learned the lesson yet ? I assume not otherwise you wouldn't keep your funds in an exchange (I'm not speaking with those who kept their bitcoin for short period of time , those accidents happens but I'm mostly speaking for those who had their bitcoins laying there for weeks/months)

I'm not trying to be rude or anything but for the last time , please ... please ! Just withdraw your funds from exchanges . I'm not sure what you got to lose here , this procedure will only secure your coins and make you safer.

I really dont get people that are using some strange sites to hold bitcoin, i mean bitfinex wasn't bad but i know some friends,
which were holding their bitcoins in there for about 2-3 months. So it is much safier to transfer them on some wallet, than holding them in ??exchange

[Holdaaja]

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

There is this rule that you can't withdraw more than your account balance and still they took 120k btc so what makes you think this rule would stop hackers?
So this would only make it uncomfortable for normal users.

[OmegaStarScream]

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

There is this rule that you can't withdraw more than your account balance and still they took 120k btc so what makes you think this rule would stop hackers?
So this would only make it uncomfortable for normal users.

Exchanges will keep getting hacked because there is nothing fully secure in in the internet so unless they decide to use Cold storage .. we will keep seeing this kind of news in the upcoming years and It won't be beautiful at all.

[Herp]

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

There is this rule that you can't withdraw more than your account balance and still they took 120k btc so what makes you think this rule would stop hackers?
So this would only make it uncomfortable for normal users.

Exchanges will keep getting hacked because there is nothing fully secure in in the internet so unless they decide to use Cold storage .. we will keep seeing this kind of news in the upcoming years and It won't be beautiful at all.

A Poloniex hack would be a very ugly event. People are incentivized to keep their coins there and I know many do.

[apriloni]

Yeah. learned the lesson, But I think we should have to trust on bitstamp, I hope it will not destroy our hard earned money, it will give us guarantee for the security of pour money. as it is now a licensed exchange.

[bitbunnny]

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

[apriloni]

Wow... they are now socializing losses to all asset holders. This is not a smart move for Bitfinex. Previously, all bitcoin wallets were segregated, so it was clear whose assets were stolen. Under bailment theory, that means Bitfinex must return assets to their rightful owners and consider assets lost as lost.

US law does not see this socialized loss scenario as valid. It's not like liquidation in bankruptcy, because this does not contemplate ranking of creditors. I smell litigation ensuing.

True, socialized loss for customers is never good. In the end the company gets the profits but their customers shoulder the losses? These guys should be sued.

BitFinex should shoulder the losses, along with its investors. It's their business, not ours.

If bitfinex did not shoulder the loses and we accepted it then after that every exchange will scam us by announcing a hack and after that they will cut off our bitcoins and they will run away with our hard earned bitcoins, bitfinex should have to fulfill the loses and the government should have to fine them, so that they care for the next time.

[BitHodler]

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

The guys running the exchange make a mess that costs people a lot money, and they pass the damage bill to its traders by cutting all balances with just over 36%. That's just nasty.

[Herp]

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

The guys running the exchange make a mess that costs people a lot money, and they pass the damage bill to its traders by cutting all balances with just over 36%. That's just nasty.

Getting 64% back and some bond is way better than losing everything.

[OmegaStarScream]

Another update about the current situation [I don't see website online , not even in read-only mode ]

[lemipawa]

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

The guys running the exchange make a mess that costs people a lot money, and they pass the damage bill to its traders by cutting all balances with just over 36%. That's just nasty.

Getting 64% back and some bond is way better than losing everything.

It might look and sound like a good sign for giving back the 64% of the account balance, better than nothing right? But that is if they really are attacked by a hacker.

I was thinking if this kind of exchange site also sign up for any insurance like real life banks, when something bad happens to the Bank depositor is insured up to a certain amount of money, so that means if the maximum insured amount is 10 BTC even if your account have 50 BTC insurance can only pay you the maximum of 10 BTC.

[BitHodler]

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

The guys running the exchange make a mess that costs people a lot money, and they pass the damage bill to its traders by cutting all balances with just over 36%. That's just nasty.

Getting 64% back and some bond is way better than losing everything.

It might look and sound like a good sign for giving back the 64% of the account balance, better than nothing right? But that is if they really are attacked by a hacker.

I was thinking if this kind of exchange site also sign up for any insurance like real life banks, when something bad happens to the Bank depositor is insured up to a certain amount of money, so that means if the maximum insured amount is 10 BTC even if your account have 50 BTC insurance can only pay you the maximum of 10 BTC.

Exactly that! It's not sure if it was a real hacker stealing their coins, or the people behind the exchange doing it themselves.

If the exchange owners have done it, then it means they robbed their traders and simply make all people beside themselves pay for it.

Either way, people must leave that exchange and immediately remove all their coins and fiat.

[jostorres]

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

Yes, it will be good for to trap the hackers before they use the stolen bitcoins, but the better solution is that the dev much have to start a system of dispute , just like the dispute system in paypal and payza, with that we will be able to recover out stolen money by winning the dispute.

[redsun114]

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

I think it will be an inconvenience for the users of bitcoin, as with that it will require much bigger time to transact our money to any other address of someone, and for purchase we will have to wait much longer.

[Sierra8561]

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

I think it will be an inconvenience for the users of bitcoin, as with that it will require much bigger time to transact our money to any other address of someone, and for purchase we will have to wait much longer.

I'm talking only deposits and withdrawals. Trading would be normal. I'd personally wait for a high confirmations number over being hacked. It definitely would give people time to react before the btc just vanished.

[cluit]

Wow... they are now socializing losses to all asset holders. This is not a smart move for Bitfinex. Previously, all bitcoin wallets were segregated, so it was clear whose assets were stolen. Under bailment theory, that means Bitfinex must return assets to their rightful owners and consider assets lost as lost.

US law does not see this socialized loss scenario as valid. It's not like liquidation in bankruptcy, because this does not contemplate ranking of creditors. I smell litigation ensuing.

True, socialized loss for customers is never good. In the end the company gets the profits but their customers shoulder the losses? These guys should be sued.

BitFinex should shoulder the losses, along with its investors. It's their business, not ours.

It is not the fault of the users that bitfinex hacked, so the users do not have to accept the lose but it is the fault of bitfinex that they have much weaker security, people had trust on them so they have to care for their users otherwise everyone will leave this exchange and it will die.

[illyiller]

I am so interested, how much money was stolen, i am don't like when something like this happening but i am sympathize to people who lost their money.

Bitfinex has stolen the funds. There was not any hack. Bitfinex earned 23 MIL USD from this shit. Yes, they made 23 MIL USD overnight.

Yes, their clients are happy that they get less 36%.

How stupid can you be to accept that?  

To be honest, I don't think this is how Bitfinex would have handled this at all if it were intended as an exit scam. I think -- based purely on the actions of Bitfinex owners -- that they are desperately trying to hold onto their baby, and that this was completely unforeseen. That's not to say it wasn't an inside job by one or two people, but I don't think this was an all-out scam. If it were, they would have simply gone dark. Instead, many large traders have reported being on calls with Giancarlo, etc. and they've actually brought the site back up and made several UX adjustments. That's not really indicative of an exit scam.

Anyway, I think people are just hoping to get some funds off now...doesn't mean they can't sue later.

[JeffBrad12]

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

I don't think so, maybe you're wrong about that. you can try to send your amount to any address but after you sending your amount and not getting a confirmed maybe your amount is already disappearing and stay in the half of the road. and waiting for the confirmation and finishing into receiver address but the transaction system like an escrow.

[extrabyte]

It's not the first exchange that is getting hacked and we have learned this lesson many times but the traders do not have any other way to trade outside exchanges so they may put all their money on exchange because when trading with a huge amount the risk is high but also the profit can be higher.

[OmegaStarScream]

It's not the first exchange that is getting hacked and we have learned this lesson many times but the traders do not have any other way to trade outside exchanges so they may put all their money on exchange because when trading with a huge amount the risk is high but also the profit can be higher.

you probably did learn the lesson but other people didn't , otherwise how would you explain that 70m $ (or something) got hacked from "USER FUNDS" which means.... yep they didn't learn anything.