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Author Topic: Bitfinex has raised enough funds to reimburse users from last year hack!  (Read 1055 times)
OmegaStarScream
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April 04, 2017, 01:35:07 PM
 #1

Bitfinex has announced it has raised enough funds to reimburse all users affected by last year’s hack in a move Erik Voorhees (ShapreShift CEO) called “fucking amazing.”

Bitfinex caused a stir in August 2016 after hackers stole 120,000 Bitcoins, worth at the time around $70 mln.

Source: https://cointelegraph.com/news/bitfinex-recapitalization-is-fcking-amazing-voorhees and https://www.bitfinex.com/posts/198

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April 04, 2017, 01:42:20 PM
 #2

Bitfinex has announced it has raised enough funds to reimburse all users affected by last year’s hack in a move Erik Voorhees (ShapreShift CEO) called “fucking amazing.”

Bitfinex caused a stir in August 2016 after hackers stole 120,000 Bitcoins, worth at the time around $70 mln.

Source: https://cointelegraph.com/news/bitfinex-recapitalization-is-fcking-amazing-voorhees and https://www.bitfinex.com/posts/198

This is impressive indeed. I clearly didn't expect this would happen, or at least not this fast.
Bitfinex will somehow clear its name and will also put Bitcoin in a better light.

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April 04, 2017, 01:42:44 PM
 #3

That's a very bad news to the entire bitcoin community when such a big hacking took place and one among the  leading investment portal lossing  big, worth around 70billion  made a big panic on the security concerns. This made the trust fall away and now the repaying the users is something good to gain back the trust and move on successfully.

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April 04, 2017, 01:46:21 PM
 #4

Bitfinex has announced it has raised enough funds to reimburse all users affected by last year’s hack in a move Erik Voorhees (ShapreShift CEO) called “fucking amazing.”

Bitfinex caused a stir in August 2016 after hackers stole 120,000 Bitcoins, worth at the time around $70 mln.

Source: https://cointelegraph.com/news/bitfinex-recapitalization-is-fcking-amazing-voorhees and https://www.bitfinex.com/posts/198

That is good to hear and finally those victims of the hack can now smile again. Hope there will be no technical problems during the refund so all can claim back their refund. The only question left in my head is this, will they refund the amount of satoshi or btc lost or they will refund as per value of bitcoins. If they will refund only as per value of bitcoin then there is something fishy.

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April 04, 2017, 01:47:13 PM
 #5

even though most users didnt get all their money back I am still very surprised that they even came through.

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April 04, 2017, 01:50:44 PM
 #6

it certainly beats the gox 'solution' still incredible that they left themselves that wide open.

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April 04, 2017, 01:53:17 PM
 #7

At that time, I still did not know about that event, however, I heard a few people tell, it is a sad thing for the bitfinex head, which shows that they can not guarantee the protection. Secret all the money, and they have to pay the price. It's a terrible amount of money, the hackers are so ugly, they steal money and use it for themselves. It was also a knife that awakened people to the security of bitcoins, and since then, bitcoins have become safer.

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April 04, 2017, 01:54:27 PM
 #8

This is good news for those users who are included on the Bitfinex hack and im sure they didnt expect such news that they would be refunded or reimbursed by the site.They are clearing up the bad reputation in the past hacking incident which means they are serious on their business and do still have concern for those people who are affected on that incident.

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April 04, 2017, 02:11:01 PM
 #9

That's a very bad news to the entire bitcoin community when such a big hacking took place and one among the  leading investment portal lossing  big, worth around 70billion  made a big panic on the security concerns. This made the trust fall away and now the repaying the users is something good to gain back the trust and move on successfully.

what??? this is a good news, the exchange is going to reimburse everything bring again trust on crypto, and remove the suggestion that an insider hacked the exchange, like poloniex did with its hack, very nice from bitfinex, i hope they learned their mistake and increased security now



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April 04, 2017, 02:32:00 PM
 #10

What a great moment, well done Bitfinex to keep a promise like that, very rare and suprising.

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April 04, 2017, 02:43:26 PM
 #11

That was quick, it is not even a year when it happened and they already recovered the funds that was lost.  I guess there are still those trusting bitfinex and its system even after the breach. I hope they are doing a better job now in protecting their users and investors.

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April 04, 2017, 02:47:41 PM
 #12

It's unexpected since most exchanges that hacked in past either bankrupt, run-away or never reimburse their user funds. It means they seriously want to restore their reputation among trader/bitcoiner one more time.
Maybe people will try to trust bitcoin exchange one more time thanks to Bitfinex.

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April 04, 2017, 02:48:46 PM
 #13

I hope they spend a little bit of that money on fixing the holes, because a second big hack like that will close their doors permanently. It is very

impressive that they basically saved up that money since about August 2, 2016 when it was announced. Their biggest loss is not just the money,

but the trust they lost from the community. I hope this will redeem some of their credit with the users.  Roll Eyes

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April 04, 2017, 02:49:21 PM
 #14

Wow, that really went quick!!
After all it was a lot of money lost!
Imagine how high their profit in a normal year must be, when they do not have the damaged reputation of a theft!
And this is not only good for bitfinex, but for the whole crypto world as well!
It shows that even under difficult circumstances there are honest people in the crypto world!

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April 04, 2017, 02:49:37 PM
 #15

Bitfinex has announced it has raised enough funds to reimburse all users affected by last year’s hack in a move Erik Voorhees (ShapreShift CEO) called “fucking amazing.”

Bitfinex caused a stir in August 2016 after hackers stole 120,000 Bitcoins, worth at the time around $70 mln.

Source: https://cointelegraph.com/news/bitfinex-recapitalization-is-fcking-amazing-voorhees and https://www.bitfinex.com/posts/198

Congrats to them for enduring and paying back investors a good end to a sad story.
Remembers vircurrex where the exchange dried out and funds were not recovered last I recalled.
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April 04, 2017, 03:28:42 PM
 #16

This was something that was very profitable for anyone who could see the writing on the wall as far as how quickly they would recover. Wink

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April 04, 2017, 03:57:57 PM
 #17

That's a very bad news to the entire bitcoin community when such a big hacking took place and one among the  leading investment portal lossing  big, worth around 70billion  made a big panic on the security concerns. This made the trust fall away and now the repaying the users is something good to gain back the trust and move on successfully.

the only thing bad about this was the fact that it shows how vulnerable third parties are and also for the millionth time it proved that you don't own bitcoin unless you have the private keys in cold storage in your own possession.

but this news is good since it showed at least they keep their promises.

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April 04, 2017, 04:07:31 PM
 #18

Bitfinex has announced it has raised enough funds to reimburse all users affected by last year’s hack in a move Erik Voorhees (ShapreShift CEO) called “fucking amazing.”

Bitfinex caused a stir in August 2016 after hackers stole 120,000 Bitcoins, worth at the time around $70 mln.

Source: https://cointelegraph.com/news/bitfinex-recapitalization-is-fcking-amazing-voorhees and https://www.bitfinex.com/posts/198

Its not only  Erik Voorhees (ShapreShift CEO)  that will call it “fucking amazing.” even me myself I cant believe it that they actually came out to say we have raised that amount and we are ready to pay all those who lost their funds, I mean thats another level of integrity at its peak which I am sure will not only speak for bitfinex now but also in the future...



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April 04, 2017, 04:12:47 PM
 #19

That's a very bad news to the entire bitcoin community when such a big hacking took place and one among the  leading investment portal lossing  big, worth around 70billion  made a big panic on the security concerns. This made the trust fall away and now the repaying the users is something good to gain back the trust and move on successfully.

the only thing bad about this was the fact that it shows how vulnerable third parties are and also for the millionth time it proved that you don't own bitcoin unless you have the private keys in cold storage in your own possession.

but this news is good since it showed at least they keep their promises.

I'm incredibly impressed. 1-of-a-million story where the company actually reimburses their clients instead of disappearing into the night.
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April 04, 2017, 04:38:53 PM
 #20

They raised those funds really quick which is quite amazing but i will never use them again and i think many have already lost trust in their security measures. There is no point in having any bitcoin stored in their platform which is vulnerable and may get hacked again.

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