[2016-08-15] Suing Bitfinex Could Lose Traders More, Not Less

[Strongkored]

NEWSBITCOIN - Suing Bitfinex Could Lose Traders More, Not Less

The exchange has sought to compensate $72 million in stolen funds by replacing 36% of customer balances with its own BFX tokens.

“The BFX tokens will remain outstanding until repaid in full by Bitfinex or exchanged for shares of iFinex Inc,” an update stated August 6.

The move was met with immediate criticism. Now, legal concerns surrounding the nature of the tokens and what traders could do with them – particularly in the US – have been augmented by threats from traders themselves to pursue criminal proceedings against Bitfinex. Securities trading specialist attorney Zach Zweihorn told Reuters.

READ MORE >>> https://news.bitcoin.com/suing-bitfinex-lose-traders-not-less/

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[1Referee]

It's very simple, as a trader there, take your loss and move on to a different exchange. I know these are easy words, but eventually you'll be happy you have done so. This exchange messed up and they don't take responsibility for the damage they have been causing. Instead, they punch people in the face and say f-you, we'll use the funds of you guys to make up for the major loss.