Bitfinex- bank blocked all their deposits

[Sadlife]

I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.

[AjithBtc]

I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.

Now bitfinex won't get into trouble. They end up and start a new business. The users who deposited starting from small amount to get a good profit believing them to be a trusted platform hesitates to be a part of bitcoin as well using it for their needs.

[Wind_FURY]

I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.

Where ever they got the money from to cover the hacked funds, they will need to repay it and they are now millions in the hole. The easiest way for them to solve their problem is to Gox their way out. Are the owners of Bitfinex capable of doing such a thing? Mark Karpeles was. The owner of Cryptsy was.

[QuestionAuthority]

I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.

Where ever they got the money from to cover the hacked funds, they will need to repay it and they are now millions in the hole. The easiest way for them to solve their problem is to Gox their way out. Are the owners of Bitfinex capable of doing such a thing? Mark Karpeles was. The owner of Cryptsy was.

Of course their capable. Do you think these unknown people running an exchange in Hong Kong are somehow more honorable than a French scammer that ran from his home country to Japan to run an exchange?

[fuckitall]

they have been fined for not registering their exchange they didn't have an about us page....their exchange was hacked...OMG!! i don't know why people still trust these people of bitfinex..bitfinex had done nothing for the bitcoin..shame!!!

[DoublerHunter]

they have been fined for not registering their exchange they didn't have an about us page....their exchange was hacked...OMG!! i don't know why people still trust these people of bitfinex..bitfinex had done nothing for the bitcoin..shame!!!

You can't blame bitfinex because they are just a site that tried their best to serve other people who want to buy and sell bitcoin to their site. It is all fault of the hackers because they bypass the security and put a lot of damage for that site and now it is closing the bank deposits because they didn't have that strong security for their site and i think it is just best for them to close their site.

[Wind_FURY]

I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.

Where ever they got the money from to cover the hacked funds, they will need to repay it and they are now millions in the hole. The easiest way for them to solve their problem is to Gox their way out. Are the owners of Bitfinex capable of doing such a thing? Mark Karpeles was. The owner of Cryptsy was.

Of course their capable. Do you think these unknown people running an exchange in Hong Kong are somehow more honorable than a French scammer that ran from his home country to Japan to run an exchange?

I do not mean overall but only in this instance. I believe all people are capable but it depends whether they have reached a tipping point. 

By the way Bitfinex got the funds from a Bitcoin crowdfunding platform called Bnktothefuture in exchange for 25% equity of the company. But the terms are not shown to the public. If there is someone out there who can explain, please do.

[QuestionAuthority]

I guess recovering from a big hack is really hard to do
maybe they've loan a big debt in some bank but didn't manage to repay it?
Blocking the deposits is the proof.

Where ever they got the money from to cover the hacked funds, they will need to repay it and they are now millions in the hole. The easiest way for them to solve their problem is to Gox their way out. Are the owners of Bitfinex capable of doing such a thing? Mark Karpeles was. The owner of Cryptsy was.

Of course their capable. Do you think these unknown people running an exchange in Hong Kong are somehow more honorable than a French scammer that ran from his home country to Japan to run an exchange?

I do not mean overall but only in this instance. I believe all people are capable but it depends whether they have reached a tipping point. 

By the way Bitfinex got the funds from a Bitcoin crowdfunding platform called Bnktothefuture in exchange for 25% equity of the company. But the terms are not shown to the public. If there is someone out there who can explain, please do.

Really? Now that's an interesting piece of info. Where did you find that out? If there's an ownership investor out there somewhere that means there's someone that can be sued if they can be identified.

[Wind_FURY]

But the owners of Bitfinex are already known and their names were mentioned quite a few times. The hack of last year already made them targets for lawsuits from Bitfinex traders but none of them followed through. There was a funny thread with pictures of the owners on a yacht "going to the Bahamas".

[RoommateAgreement]

..snip..
What do you mean? That all that is going on with Bitfinex is completely like what went on with MtGox? I believe not yet. There was a massive buying that catapulted the price of Bitcoin from a few hundred to over $1000. I hope we see it happen again.

if you are talking about the 2013 gox price then it was "catapulted" from less than $200 to above $1100 in nearly 2 months.
and no one likes that to happen again unless you are a fiat fan and want to take your fiat out of bitcoin and give up on bitcoin.

[QuestionAuthority]

But the owners of Bitfinex are already known and their names were mentioned quite a few times. The hack of last year already made them targets for lawsuits from Bitfinex traders but none of them followed through. There was a funny thread with pictures of the owners on a yacht "going to the Bahamas".

Oh my god, that is too funny. It's amazing how they taunt us with the wealth they stole from us.

[d.kevin29]

But the owners of Bitfinex are already known and their names were mentioned quite a few times. The hack of last year already made them targets for lawsuits from Bitfinex traders but none of them followed through. There was a funny thread with pictures of the owners on a yacht "going to the Bahamas".

Oh my god, that is too funny. It's amazing how they taunt us with the wealth they stole from us.

Not so funny afterall. Most eary Bitcoin adopters (I'm talking about 2013-present day) know about these websites and how people got scammed by them. Whoever returns to the website after they got scammed.. I don't know what to say.

But newcomers, or say most of them, don't really check websites and so their volume doesn't get too low .. it increases instead, making it another good chance for the owners to simply scam a second time. Someone who scammed you will try to do it a second time too, sooner or later.

These guys are living with money people have lost because of their website. There are some people that even commited suicide because of the sums they have lost (those who had +100BTC deposited there) most probably.. not funny, I'd say.

[Doms]

Just whenI thought they were getting their acts together, suddenly news like this comes out. Those who still have accounts with them might be getting pretty nervous and this might just be the right time to cut ties with them. This should serve as a warning to other exchanges and try as much as possible to tighten their securities and always be a step ahead of those trying to take advantage of them.

[mayax]

how can Bitfinex survive when they cannot receive and send funds to their clients?

[mindrust]

how can Bitfinex survive when they cannot receive and send funds to their clients?

They can't and they won't. If people had any piece of sense left in their brains, they would be running away from finex right now. (Smart ones probably do/did) The signs are clear. It is not like Gox which happened instantly without any sign. (Huge price pump caused by Gox was the only sign actually)

[nikkisnowe]

how can Bitfinex survive when they cannot receive and send funds to their clients?

They can't and they won't. If people had any piece of sense left in their brains, they would be running away from finex right now. (Smart ones probably do/did) The signs are clear. It is not like Gox which happened instantly without any sign. (Huge price pump caused by Gox was the only sign actually)

The fact that account holders in Bitfinex can move their bitcoins or altcoins off the exchange, as suggested, is an example of how this is absolutely nothing like Mt. Gox.  By the sound of most of the posts here, its obvious that ~90% of the people posting haven't been around long enough to remember Mt. Gox.  When Mt. Gox went down, EVERYTHING was frozen.  Bitcoins, fiat; all of it was frozen.  Comparing Mt. Gox to this incident with Bitfinex is absurd.  It sucks for Bitfinex themselves but for anyone else, simply get out.

[freedomno1]

how can Bitfinex survive when they cannot receive and send funds to their clients?

They can't and they won't. If people had any piece of sense left in their brains, they would be running away from finex right now. (Smart ones probably do/did) The signs are clear. It is not like Gox which happened instantly without any sign. (Huge price pump caused by Gox was the only sign actually)

The fact that account holders in Bitfinex can move their bitcoins or altcoins off the exchange, as suggested, is an example of how this is absolutely nothing like Mt. Gox.  By the sound of most of the posts here, its obvious that ~90% of the people posting haven't been around long enough to remember Mt. Gox.  When Mt. Gox went down, EVERYTHING was frozen.  Bitcoins, fiat; all of it was frozen.  Comparing Mt. Gox to this incident with Bitfinex is absurd.  It sucks for Bitfinex themselves but for anyone else, simply get out.

Karpeles was a troll saying the wallet is broke we have some sort of unheard of problem that was due to buggycode that causes uber glitches and we can't even get the Bitcoin button to work due to transaction malleability.
Even got the mainstream press convinced at the time
https://www.theguardian.com/technology/2014/feb/27/how-does-a-bug-in-bitcoin-lead-to-mtgoxs-collapse
Course history ^^
http://www.theverge.com/2015/8/3/9090191/mtgox-mark-karpeles-bitcoin-arrested-cryptocurrency

Finex is just frozen cause banks being a beech. (Well's Fargo in particular)
That said taking your coins out and depositing once the banking is fixed is perfectly reasonable and prudent.

[maydna]

how can Bitfinex survive when they cannot receive and send funds to their clients?

They can't and they won't. If people had any piece of sense left in their brains, they would be running away from finex right now. (Smart ones probably do/did) The signs are clear. It is not like Gox which happened instantly without any sign. (Huge price pump caused by Gox was the only sign actually)

The fact that account holders in Bitfinex can move their bitcoins or altcoins off the exchange, as suggested, is an example of how this is absolutely nothing like Mt. Gox.  By the sound of most of the posts here, its obvious that ~90% of the people posting haven't been around long enough to remember Mt. Gox.  When Mt. Gox went down, EVERYTHING was frozen.  Bitcoins, fiat; all of it was frozen.  Comparing Mt. Gox to this incident with Bitfinex is absurd.  It sucks for Bitfinex themselves but for anyone else, simply get out.

if we can withdraw our coins in bitfinex, then we should withdraw its soon because if the site is really gets closed then we can not do anything and our coins will gets disappeared. i think bitfinex will give a chance for their members to withdraw all their coins into other exchange so the members still can use the coins to another purpose. its sadly to know bitfinex getting this problem and for the members that have the coins in there, i wish you can withdraw all of your coins and send it right away into other exchange.

[Wind_FURY]

..snip..
What do you mean? That all that is going on with Bitfinex is completely like what went on with MtGox? I believe not yet. There was a massive buying that catapulted the price of Bitcoin from a few hundred to over $1000. I hope we see it happen again.

if you are talking about the 2013 gox price then it was "catapulted" from less than $200 to above $1100 in nearly 2 months.
and no one likes that to happen again unless you are a fiat fan and want to take your fiat out of bitcoin and give up on bitcoin.

Do not be a plaster saint. We all know that the fiat value of Bitcoin still and will always matter to you, to me and everyone else. Why do you think many people in Bitcoin love to speculate on the price? If you have found a new way to measure Bitcoin's value do not hesitate to tell us.

[btctousd81]

didnt it happen with mtgox last time. ?
have to be more careful , where and how you transact.