Is Bitfinex turning into Mt. Gox?

[8xbt.com]

Yes, just another mt gox  

[ownageplocks]

My opinion is that if you still have your money in bitfinex after the hack then you definitely had this coming. Even more so now with them discontinuing bitcoin withdrawals. I'd be very wary of this exchange at this point.

[smoothie]

https://bitcointalk.org/index.php?topic=1169661.msg18629608#msg18629608

Lol thanks for the laugh. 

[The One]

Maybe we should send Roger Ver to Hong-Kong to check them out and tell us everything is ok. LOL

Quite right...

[alyssa85]

I'd say "Don't take any chances".

Pull your money out and use another exchange. If and when they enable fiat withdrwals, then by all means use them again. But better to be safe than sorry.

The problem with mt gox was that despite a long lead up with signs things were going wrong, some people just didn't want to believe there was a problem. Back then there weren't many exchanges you could use, I think there was only bitstamp and btc-e as alternatives, and some people ironically were worried about btc-e simply because they were run by anonymous russians, whereas they "knew" Karpeles and felt they could trust him.

Don't put faith in people, instead look for certain signs in the operation. Fiat withdrawals being blocked by banks means that someone has reported them for fraud (wires arn't blocked for any old reason). Fiat withdrawals blocked for other reasons might mean the exchange has spent people's money. If the fee for bitcoin withdrawals rises sharply, it means they discouraging withdrawals because they are short of coins and may be hacked.

Be careful out there!

[betlord90]

I lost my trust on them since they have been hacked before and i don't want to get some problem if the hacking again will be happen Again and also i really got a bad feeling on how bitfinnex gonna deal with this issue since people are doubting now for their credibility since im very sure that people are afraid for this one the go the same on what happen on mt.gox.

[Kyraishi]

Yes, just another mt gox  

Will all due respect to you sir, but I think we are not ready to imply something like that.
Bitfinex has shown us some signs that actually do not attract anyone to this exchange, im sure that people are trying to do their best to bail-out from that place, but I think it is still too early to say that Bitfinex is the same as mt.gox.
First of all, Mt.gox was basically holding the biggest part of the market back then, that is why it also had such a big influence on the bitcoin price ( when BTC was something new, revolutionary ).
Right now, we would not see such a big price drop, because Bitfinex does not plays such an important role in bitcoin trading as mt.gox did back then, so it would prevent us from loosing money on holding BTC.

[evilgreed]

Yes, just another mt gox  

Will all due respect to you sir, but I think we are not ready to imply something like that.
Bitfinex has shown us some signs that actually do not attract anyone to this exchange, im sure that people are trying to do their best to bail-out from that place, but I think it is still too early to say that Bitfinex is the same as mt.gox.
First of all, Mt.gox was basically holding the biggest part of the market back then, that is why it also had such a big influence on the bitcoin price ( when BTC was something new, revolutionary ).
Right now, we would not see such a big price drop, because Bitfinex does not plays such an important role in bitcoin trading as mt.gox did back then, so it would prevent us from loosing money on holding BTC.

I really don't understand and as of now i really don't know what will happen to bitfinex. I'm really hoping this wont be like mt.gox and this could be fixed. In the other hand lets just be positive for what will be the outcome.

[numismatist]

It honestly would not be surprising to me in the least if there was something going on in Bitfinex that resembles Mt.Gox's collapse to be entirely honest. They got hacked earlier, and while they're trying to make a comeback from that chances are it isn't going to work very well. If they manage to keep their exchange alive then good for them, but I'm doubting it more and more now.

They could move out of Taiwan. There's nothing to hold them there anymore. Maybe the servers are elsewhere anyways.

Beginning 18th April, all incoming wires to Bitfinex will be blocked and refused by their Taiwan banks. This applies to all fiat currencies at the present time.

That means Bitfinex doesn't have bank accounts anymore. It seams their accounts are closed.

[pinkflower]

https://bitcointalk.org/index.php?topic=1169661.msg18629608#msg18629608

LMAO!

But seriously if an exchange disables deposits and withdrawals or if their bank freezes funds not letting Bitfinex pull their customer's money out then theres something suspicious happening here.

Can anyone know how much BTC are being withdrawn from Bitfinex right now?

[crazyivan]

Has it been confirmed they ve halted withdrawals as well? I ve read only about wire deposits not working.

[gentlemand]

Has it been confirmed they ve halted withdrawals as well? I ve read only about wire deposits not working.

It was dollar withdrawals that were stopped first, then it became dollar deposits a while after. Crypto's still fine as are CHF and HKD withdrawals. I'm not sure what fiat deposits are possible right now.

[Kotone]

For real? Hahaha i don't believed on this bitfinex had already bhad records to those past users where they paused those bitcoins seriously? this is really impossible to happen no one can turn into mt. gox for sure.

[LoyceV]

I don't know about that but people can't say they haven't been warned.

"Fool me once, fool me twice"?
Bitfinex should have been bankrupt after their previous "hack", but instead they tried to save their company by taking customer's funds to "share the losses".
There are enough options to use another exchange, and yet, people keep using the one that had it's "secure" multisig hacked.

[alyssa85]

Apparently OKCOIN is also suspending wire transfers. I reckon something is going on with the Banks in the Far East.

Here is an image of the OKCoin announcement:



And here is the Reddit thread about it:

https://www.reddit.com/r/Bitcoin/comments/666s9e/okcoin_is_also_having_usd_transfers_disrupted_are/

So it is not just Bitfinex - it's all the eastern exchanges.

[Nagadota]

Has it been confirmed they ve halted withdrawals as well? I ve read only about wire deposits not working.

It was dollar withdrawals that were stopped first, then it became dollar deposits a while after. Crypto's still fine as are CHF and HKD withdrawals. I'm not sure what fiat deposits are possible right now.

It's good that they've stopped deposits.  It'll stop people from putting even more money in when it goes to shit (which could really be pretty soon).

As many people should pull out now as possible with a Bitcoin withdrawal, but they could always stop those at some point as well.  It really is a pretty desperate situation.  Luckily though the price wouldn't take so much of a hit if Bitfinex failed since it has much less trading volume as a percentage of the total than Gox did.

[Dlugina23]

Well i am not using this page.Currently i have no problem to sell my btc.

[richardsNY]

As many people should pull out now as possible with a Bitcoin withdrawal, but they could always stop those at some point as well.  It really is a pretty desperate situation.  Luckily though the price wouldn't take so much of a hit if Bitfinex failed since it has much less trading volume as a percentage of the total than Gox did.

Bitfinex by volume is the largest exchange at this point. It won't be as severe as was the case back then with Mtgox when the price crashed from nearly $1200 to deep under the $200 level, but that doesn't mean we will be walking out undamaged. It's annoying that it has become somewhat of a certainty to see one or more exchanges go down once every few years. I just hope that when withdrawals become available again that people will start looking for a different exchange.

[Yuuto]

It is hard for me to agree with the theory that bitfinex is similiar to mt.gox case, because we can see that bitfinex suffers because of freezing their bank accounts in the USD, by the government, and mtgox was pretty much faking the details and stats.

Also, mt.gox had insanely big influence on bitcoin price, because it was pretty much the only really widely used exchange, and also because that was a very loud case.

As we can see, bitfinex has not changed the bitcoin/usd rate significantly.

[thebatletbet]

They have suspended all FIAT deposits as well as USD withdrawal.

April 13 Announcement: https://www.bitfinex.com/posts/199

April 17 Announcement: https://www.bitfinex.com/posts/200

Reddit on Panic: https://www.reddit.com/r/BitcoinMarkets/comments/65vygu/bitfinex_stopping_money_deposits_while_we_develop/

iam not understand why bitfinex close deposit and withdraw use USD transfer wire
why bank account bitfinex is blocked, i think is bad issue bitfinex exchanger