Bitcoin Forum
October 21, 2017, 09:41:41 PM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Lending BTC when an exchange is hacked  (Read 872 times)
jammyjimbo
Newbie
*
Offline Offline

Activity: 10


View Profile
September 08, 2016, 03:08:51 PM
 #1

Hello, here is a question I have been mulling over for a while.

If an exchange is hacked and at that time your bitcoins are lent out, and are "stolen", does this have legal implications and possibly help you because the bitcoins were not in your possession? Would the account you were lending them to have the duty to return them? You had no access to them at the time of the hack. As you may know some exchanges have this lending feature.

Any thoughts on this? Would it be any "safer" for one to have the coins lent out, or create possible advantageous legal avenues to explore?
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508622101
Hero Member
*
Offline Offline

Posts: 1508622101

View Profile Personal Message (Offline)

Ignore
1508622101
Reply with quote  #2

1508622101
Report to moderator
1508622101
Hero Member
*
Offline Offline

Posts: 1508622101

View Profile Personal Message (Offline)

Ignore
1508622101
Reply with quote  #2

1508622101
Report to moderator
1508622101
Hero Member
*
Offline Offline

Posts: 1508622101

View Profile Personal Message (Offline)

Ignore
1508622101
Reply with quote  #2

1508622101
Report to moderator
secattorney
Newbie
*
Offline Offline

Activity: 27

Cryptocurrency Attorney & Entrepreneur


View Profile WWW
September 09, 2016, 12:41:59 AM
 #2

Provided the coins are not returned, you have a cause of action for negligence, conversion, arguably securities fraud, etc. - irrespective of whether the coins were lent out at the time or otherwise parked with the exchange

The hack itself gives you something to proceed on in the sense that there is a prospective opportunity cost of not having access to lend the coins, among varied other state and federal causes of action relating to data privacy/security and the like

If you are for something more than the abridged version, just pm me or email me directly. I am an attorney, btb.

www.Bitcoin-Lawyer.Org
Bitrated user: AdamTracy.
Dinki
Full Member
***
Offline Offline

Activity: 182

Incent


View Profile
September 09, 2016, 03:09:58 PM
 #3

But even if your coins were not lent out, I think the mere fact that you have coins in an exchange that got hacked is enough reason to seek legal action for a refund. Undecided

secattorney
Newbie
*
Offline Offline

Activity: 27

Cryptocurrency Attorney & Entrepreneur


View Profile WWW
September 09, 2016, 03:22:00 PM
 #4

i agree 100%

www.Bitcoin-Lawyer.Org
Bitrated user: AdamTracy.
gentlemand
Legendary
*
Online Online

Activity: 1428


Hello You


View Profile
September 10, 2016, 11:47:42 AM
 #5

All coins regardless of how they're being used or who they're being used by, are in the custody of the exchange. All you have is an IOU that should allow you to withdraw what the site is telling you what you have. The coins haven't actually gone anywhere different, just allocated to a different bit of their database.

Sharma
Legendary
*
Offline Offline

Activity: 1022


GATCOIN : The New Currency Of Digital Marketing


View Profile
September 11, 2016, 08:30:50 AM
 #6

But even if your coins were not lent out, I think the mere fact that you have coins in an exchange that got hacked is enough reason to seek legal action for a refund. Undecided
It actually depends on the law of land where the exchange is located or registered with government for doing business.Bitcoin is a decentralized and shall be treated differently in different countries depending on their laws


          ▄▄
        ▄█▀█
      ▄█▀  █
    ▄█▀    █    ▄█▄
  ▄█▀     ▄█  ▄█▀▀██▄
 ██     ▄█▀ ▄█▀   ████
██    ▄█▀  █▀    ▄██▌██
█▌  ▄██    █   ▄██▄█  █
█▌ █▀▐█    █ ▄█▀██▀   █
██▐█  ▀█▄  ██▀▄█▀    ▄█
 ███    ▀█▄ ▄█▀     ▄█
  ▀██     ▀█▀     ▄█▀
    ▀█▄    █    ▄█▀
      ▀█▄  █  ▄█▀
        ▀█▄█▄█▀
          ▀▀▀




▬▬▬▬▬▬▬▬▬▬▬ANN THREAD▬▬▬▬▬▬▬▬▬▬▬
.The New Currency Of Digital Marketing.
▬▬▬▬▬▬▬▬▬▬BOUNTY THREAD▬▬▬▬▬▬▬▬▬▬







    ▄██▀▀▀▀▀▀▀▀▀▀▀▀█▌
  ▄█▀ █            █▌
▄██▄▄▄█            █▌
█▌                 █▌
█▌                 █▌
█▌        ▄███▄    █▌
█▌      ▄█▀▄█▀     █▌
█▌    ▄█▀▄█▀       █▌
█▌   ▐█▄█▀         █▌
█▌                 █▌
█▌                 █▌
█▌                 █▌
 ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀







                 ▄████▄▄    ▄
██             ████████████▀
████▄         █████████████▀
▀████████▄▄   █████████████
▄▄█████████████████████████
██████████████████████████
  ▀██████████████████████
   █████████████████████
    ▀█████████████████▀
      ▄█████████████▀
▄▄███████████████▀
   ▀▀▀▀▀▀▀▀▀▀▀




                      ▄▄████
                ▄▄▄████████▌
          ▄▄▄███████▀▄█████
     ▄▄█████████▀▀ ▄██████▌
▄▄███████████▀  ▄█████████
 ▀▀▀█████▀    ▄██████████▌
       ██   █████████████
        █▄ █████████████▌
        ▐█▄███▀▀████████
         ███▀    ▀▀████▌
                    ▀▀█
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!