Bitfinex owners - stolen funds and ponzi schemes

[ajaxmoor]

Have the people who had deposits in Dollars been able to withdraw the funds on the site, or are they tied to the legal case as well ?

As for the case, if the exchanges aren't taking any action, then people should take actions towards the exchanges.

[panju1]

Have the people who had deposits in Dollars been able to withdraw the funds on the site, or are they tied to the legal case as well ?

As for the case, if the exchanges aren't taking any action, then people should take actions towards the exchanges.

There is a discount on all assets held by the exchange, whether it is dollars or bitcoins.
It is not that only those who held bitcoins on the site are going to lose out.

[franky1]

french guy moves to asia to set up a bitcoin exchange that accept dollars to become the main exchange of the bitcoin ecosystem... it gets "hacked"
not original storyline in everyway

[shinratensei_]

Bitfinex did not report anything to the Hong Kong police.    They lied. There is no investigation from any authority yet.

You can call yourself the police from HK and they will confirm you that.

In the mean time, take your time and read a very interesting story : https://www.cryptocoinsnews.com/bitfinexs-ceo-seemingly-tried-start-ponzi-scheme



     Raphael NICOLLE  - one of the Bitfinex owners

I don't think so if they wanna call the police and the police will wanna to take care of their cases. because like the DAO there is a petition for FBI to take care of the DAO cases and until this time, the result is negative.

[GreenBits]

Bitfinex did not report anything to the Hong Kong police.    They lied. There is no investigation from any authority yet.

You can call yourself the police from HK and they will confirm you that.

In the mean time, take your time and read a very interesting story : https://www.cryptocoinsnews.com/bitfinexs-ceo-seemingly-tried-start-ponzi-scheme



     Raphael NICOLLE  - one of the Bitfinex owners

I don't think so if they wanna call the police and the police will wanna to take care of their cases. because like the DAO there is a petition for FBI to take care of the DAO cases and until this time, the result is negative.

I would think they would be increasingly legally liable/complicit if they didn't report this, given the sheer magnitude of the funds stolen here.. Beyond the shadow of a doubt this has been reported, or surely the citizens have swarmed local law enforcement with individual complaints. There is simply too many people and too much money involved in this for the cops not to bite.

[amacar2]

BFXNA Inc is a Hong Kong company which has as its shareholder iFinex Inc , a BVI company.

Bitfinex wants to offer "tokens"(a useless shit) to their clients.

Bitfinex said "The BFX tokens will remain outstanding until redeemed in full by Bitfinex or possibly exchanged—upon the creditor’s request and Bitfinex’s acceptance—for shares of iFinex Inc""

Bitfinex will do an illegal thing again. It will offer shares to public even it's forbidden by the BVI law as an "Inc" company to do that.

So if BVI law forbid offering shares to public than this distributing share to compensate user loss is just another lie from bitfinex?

[ronald98]

The users should already have to remove their bitcoins from bitfinex when it was hacked a few months ago, at that time I was having a doubt that there will be something problem from the owner and that is why I preferred to stay away from there.

When it abruptly went offline for days it was a clear sign something was wrong. People should have heeded that warning and removed their Bitcoins. Nonetheless Bitfinex was the biggest exchange for liquidity, and trading in large amounts of coins was only feasible on Bitfinex. The markets of the other exchanges were too small for whales.

The whales could only choose to trade at Bitfinex or not trade at all. Some risked it and paid the price.

[mayax]

BFXNA Inc is a Hong Kong company which has as its shareholder iFinex Inc , a BVI company.

Bitfinex wants to offer "tokens"(a useless shit) to their clients.

Bitfinex said "The BFX tokens will remain outstanding until redeemed in full by Bitfinex or possibly exchanged—upon the creditor’s request and Bitfinex’s acceptance—for shares of iFinex Inc""

Bitfinex will do an illegal thing again. It will offer shares to public even it's forbidden by the BVI law as an "Inc" company to do that.

So if BVI law forbid offering shares to public than this distributing share to compensate user loss is just another lie from bitfinex?

it will be ANOTHER illegal thing that Bitfinex wants to do it along with others from past : market manipulation, inside trading, accounts blocked without any reason, stolen funds from client's accounts and this 70 MIL USD so called hacked which is an inside job too.

iFinex Inc(Bitfinex) cannot issue shares to public. judge yourself about that

[Kprawn]

If you report a crime in my country, you are immediately given a case number as proof that you did report the crime and also for a reference when you want to report it to the insurance companies. It

then gets investigated by both parties. The question is ... What proof do these guys have that they reported it to the authorities. {case number} and did they have any insurance against these types of

events? Just imagine them claiming from insurance and pocketing the money for themselves and not paying it out to the people who got hacked.  

[Leonard2016]

i wonder did any of the victims of this hack, i mean any of the people who had funds on bitfinex exchange and it was lost, report to the police about it and file any kind of complaint about them?

or is everybody waiting for others to do it!

[Listent]

Bitfinex will be 2nd Mt. Gox in history, then the owner caught by government and get free by pay loans from stolen bicoin or his profit
No way they can pay all users losses or work with insurance/government to fix the problem.

The only insured bitcoin exchange is the Gemini. I heard that it has FDIC protection. But I am not sure if that applies to bitcoin or not.

[macedoniantable]

Bitfinex will be 2nd Mt. Gox in history, then the owner caught by government and get free by pay loans from stolen bicoin or his profit
No way they can pay all users losses or work with insurance/government to fix the problem.

The only insured bitcoin exchange is the Gemini. I heard that it has FDIC protection. But I am not sure if that applies to bitcoin or not.

You can't be serious.
These exchanges that were hacked were not insured?
Why would people even have any confidence in the first place to endow their bitcoin, in reality being the equality of money, to these companies if they knew this fact when agreed their terms of service registering an account with them?
This to me just does not make any sense.

[ajaxmoor]

Have the people who had deposits in Dollars been able to withdraw the funds on the site, or are they tied to the legal case as well ?

As for the case, if the exchanges aren't taking any action, then people should take actions towards the exchanges.

There is a discount on all assets held by the exchange, whether it is dollars or bitcoins.
It is not that only those who held bitcoins on the site are going to lose out.

Aware of that being a possibility, but didn't they say the dollar markets were unaffected and they were likely not going to be using that to compensate for the losses ?

[CraigWrightBTC]

maybe it was just a beginning, we just need to wait a little bit more i guess

Yes i agree with you, because police needs enough prove for processing the case and without it never running. And The processing of law needs much time too, so let's wait and see about this problem.

[macedoniantable]

maybe it was just a beginning, we just need to wait a little bit more i guess

Yes i agree with you, because police needs enough prove for processing the case and without it never running. And The processing of law needs much time too, so let's wait and see about this problem.

I thought the police and FBI/CIA/CID were finished with their investigations. Or are they ongoing?
There has not been any news recently on any new leads in catching who do this and details on how they got away with it.
Like many here I am thinking it was stolen from within the company and thus bringing fourth to light that it was in fact a ponzi scheme.

[calme]

I specifically kept cash on the exchange knowing it would be less likely to be hacked...

[ajaxmoor]

maybe it was just a beginning, we just need to wait a little bit more i guess

Yes i agree with you, because police needs enough prove for processing the case and without it never running. And The processing of law needs much time too, so let's wait and see about this problem.

I thought the police and FBI/CIA/CID were finished with their investigations. Or are they ongoing?
There has not been any news recently on any new leads in catching who do this and details on how they got away with it.
Like many here I am thinking it was stolen from within the company and thus bringing fourth to light that it was in fact a ponzi scheme.

Has there ever been a case like this where the hacker was found after an investigation ? Most of these big money hacks usually make sure that either they are completely anonymous, or they do the required leg work to cover up everything well enough to not be caught.

[jak3]

we can not keep silent by this.its not just about us but if we are silent then they will get the advantage we shoud take some step on this.someone who's money is not lost should report it to the police just they should investigate it

[European Central Bank]

The only insured bitcoin exchange is the Gemini. I heard that it has FDIC protection. But I am not sure if that applies to bitcoin or not.

fdic is dollars only. gemini might have bitcoin insurance, the only phrasing on their site is 'fully protected, but i'm not sure.

i'm pretty sure coinbase is insured for hacks at their end but let's see a genuine payout before having minds put at rest.

bitpay tried to claim on their insurance after an employee fell for some incredibly obvious scam. the insurance company told them to screw themselves. can't say I blame them.

[Bitcoinpro]

HongKong is Han Chinese they invented stealing