[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading

[urwhatuknow]

Hello Giancarlo and Raphael,

I was trading as usual last night when I noticed strange things happening with Bitfinex, everything got messed up, e.g. I bought 100 LTC two times and the commission was 7.5 BTC for both trades! It completely wiped out my trading account and put it into a negative zone (please see the screenshot attached). After reading the discussion on [Suspicious link removed] I realized that something was seriously broken. Therefore, please take a look into my account and restore to the previous state. I can see now that you have removed any positions I had in margin trading (they highly were profitable) and removed the negative balance on my trading account which is fine as I understand that the system simply broke and all trades are invalid. So my trading wallet balance is now $0 and 0 BTC. Before the Bitfinex malfunction it was $50 and 2.5054837 BTC (as you can see in the history as of late Feb. 5 -- I'm located in the US Eastern Time zone). Please take a look into this.

Best regards,
digitalfan

CC: Bitfinex support email.

you hide your username, and your alias is not matching anything on our database.
I'll be glad to check your position if you PM your username

thanks

Giancarlo
Bitfinex Team

[1713581386]

1713581386

[1713581386]

1713581386

[1713581386]

1713581386

[digitalfan]

Hello Giancarlo and Raphael,

I was trading as usual last night when I noticed strange things happening with Bitfinex, everything got messed up, e.g. I bought 100 LTC two times and the commission was 7.5 BTC for both trades! It completely wiped out my trading account and put it into a negative zone (please see the screenshot attached). After reading the discussion on [Suspicious link removed] I realized that something was seriously broken. Therefore, please take a look into my account and restore to the previous state. I can see now that you have removed any positions I had in margin trading (they highly were profitable) and removed the negative balance on my trading account which is fine as I understand that the system simply broke and all trades are invalid. So my trading wallet balance is now $0 and 0 BTC. Before the Bitfinex malfunction it was $50 and 2.5054837 BTC (as you can see in the history as of late Feb. 5 -- I'm located in the US Eastern Time zone). Please take a look into this.

Best regards,
digitalfan

CC: Bitfinex support email.

http://www.image-share.com/upload/2427/249.png

you hide your username, and your alias is not matching anything on our database.
I'll be glad to check your position if you PM your username

thanks

Giancarlo
Bitfinex Team

I have just sent you a PM with my username. Please check.

[mlocks01]

I am completely speechless. Binfinex has STOLEN over $5,500 in USD and 240 LTC from my account. I was short leading up to the incident last night and able to close my position well before the wild swings began. This is the kind of dip that many of us have been waiting for and Bitfinex decides to arbitrarily cancel all trades?  The hacker story makes a nice excuse, but there was a legitimate sell off that got exacerbated by margin calls. That's why I here to begin with, to use the leverage. I've been a loyal user on this exchange and there was no refund for me when I was long 1,500 LTC before things got ugly back in December. Why should it be acceptable for me to fund those losses when the Bitfinex LTC exchange printed a .0001 back then? That was Bitfinex's mistake just as much as allowing someone to hack the website, if that is indeed what happened.  I will be closing my account and taking any and all legal actions available. I suspect there is more to the story and I intend to find out what it is. Ultimately, it's this type of thievery and abuse that will prevent this exchange from being viable in the future, and it is an example of why crypto in general is suspect. In not honoring the legitimate trades and standing by it's users Bitfinex has lost all credibility and in my opinion is no better than the hackers.

so many newbies spitting nice words, most of them at their first message.....
after I ask for their username they all disappear like snow in the sun....
can you please PM your username to me so that I can check your position?

Thanks

Giancarlo
Bitfinex Team

Giancarlo, I just sent you a PM with my username.  Please let me know if you need anything else.  Thanks.

[Helix]

Hello Giancarlo,

I sent you two PM's earlier today... Could you take a look at my issue when you've got a moment? Thank you...

[nmersulypnem]

Sorry for being a little sarcastic, maybe I just had a bad day.
Or maybe it's just me.....

Have a good day

Giancarlo
Bitfinex Team

I'm not convinced you've caught everything that was going on last night.  Firstly, if you're rolling back trades that were profitable and those people withdrew their LTC (as they discussed while it was happening), then how much LTC in total are you compensating people?

Also, swap numbers were crazy yesterday.  My personal swap cost for my open BTC short went from $6 to $98 in five minutes - no explanation for that.

...but most importantly.  We were trying desperately to contact support last night.  Is there really no one online monitoring the system?  ALL OF THIS COULD HAVE BEEN AVOIDED IF YOU HAD SOMEONE ONLINE.

 ...sorry for all caps - I had a bad night as well.

[urwhatuknow]

Hello Giancarlo,

I sent you two PM's earlier today... Could you take a look at my issue when you've got a moment? Thank you...

done, sorry for the delay

Giancarlo
Bitfinex Team

[MAbtc]

UPDATE

Just to clear up things, it's better to repeat what has already been stated earlier today:

1) No coins were stolen.
2) No money was moved.
3) Our servers are safe.
4) Nobody broke into our system.
5) We use cold wallets and only a very tiny portion of our total is kept in the hot wallet.
6) The malicious trader was only able to by some coins on margin but his positions were then reversed
7) All the trades that took place before 3 a.m. GMT today were neither effected nor reversed.

We resumed trading 3 hours ago and now all is working fine, the glitch has been corrected and apart for some people that tried to take advantage of the abnormal situation the very vast majority of our customers behaved brilliantly.

Let me once more reiterate that I believe Bitfinex is a community and its people should behave accordingly and not try to take advantage on each others when things are clearly showing dysfunctional numbers.
Few people understand that if they are able to buy a coin for half price is the other part of the trade and not Bitfinex that loses something.

We will always protect customers getting exploited in their leveraged positions by market manipulators.

We surely had better days, but we emerge from this difficult event with the consciousness of having made the right thing.

Have a good day you all and thanks a lot for your support

Giancarlo
Bitfinex Team

 

Have you reversed all trades that will be reversed? 16 hours later, this is all I want to know -- something we all need to know ASAP. This market is volatile, and traders need to know if their positions from 16 hours ago are still locked in. By the time they are reversed, they may have become unprofitable. The longer this can go on, the more fucked up this is.

[superbit]

Thank you for handling the situation, though I did have a smile on my face when I logged in and my balance was 200K more then it should have been.  Unfortunately it seems to be back to normal now....lol

[urwhatuknow]

Sorry for being a little sarcastic, maybe I just had a bad day.
Or maybe it's just me.....

Have a good day

Giancarlo
Bitfinex Team

I'm not convinced you've caught everything that was going on last night.  Firstly, if you're rolling back trades that were profitable and those people withdrew their LTC (as they discussed while it was happening), then how much LTC in total are you compensating people?

Also, swap numbers were crazy yesterday.  My personal swap cost for my open BTC short went from $6 to $98 in five minutes - no explanation for that.

...but most importantly.  We were trying desperately to contact support last night.  Is there really no one online monitoring the system?  ALL OF THIS COULD HAVE BEEN AVOIDED IF YOU HAD SOMEONE ONLINE.

 ...sorry for all caps - I had a bad night as well.

You are right.
We cover 24/7 but yesterday the guy that was supposed to cover that time (John) was on a plane from Thailand to Hong Kong and the European guys were sleeping.
I miscalculated his flying time and thought he was flying in the evening and not in the morning.

This wont happen again in the future.

Thanks and have a good day

Giancarlo
Bitfinex Team


P.S.) I guess Murphy's law once more was applied....

[urwhatuknow]

UPDATE

Just to clear up things, it's better to repeat what has already been stated earlier today:

1) No coins were stolen.
2) No money was moved.
3) Our servers are safe.
4) Nobody broke into our system.
5) We use cold wallets and only a very tiny portion of our total is kept in the hot wallet.
6) The malicious trader was only able to by some coins on margin but his positions were then reversed
7) All the trades that took place before 3 a.m. GMT today were neither effected nor reversed.

We resumed trading 3 hours ago and now all is working fine, the glitch has been corrected and apart for some people that tried to take advantage of the abnormal situation the very vast majority of our customers behaved brilliantly.

Let me once more reiterate that I believe Bitfinex is a community and its people should behave accordingly and not try to take advantage on each others when things are clearly showing dysfunctional numbers.
Few people understand that if they are able to buy a coin for half price is the other part of the trade and not Bitfinex that loses something.

We will always protect customers getting exploited in their leveraged positions by market manipulators.

We surely had better days, but we emerge from this difficult event with the consciousness of having made the right thing.

Have a good day you all and thanks a lot for your support

Giancarlo
Bitfinex Team

 

Have you reversed all trades that will be reversed? 16 hours later, this is all I want to know -- something we all need to know ASAP. This market is volatile, and traders need to know if their positions from 16 hours ago are still locked in. By the time they are reversed, they may have become unprofitable. The longer this can go on, the more fucked up this is.

everything is back in place.

Let me know if you see any discrepancy, but all should be ok now.

Thanks

Giancarlo
Bitfinex Team

[digitalfan]

Just wanted to update everyone on my post above about the loss of $50 and 2.5054837 BTC. Giancarlo has returned the money back to my account (except the small amount of commission that was taken for some of the invalid trades). I am happy that I have recovered most of my money and want to thank Giancarlo for his quick actions.

[Helix]

Hello Giancarlo,

I sent you two PM's earlier today... Could you take a look at my issue when you've got a moment? Thank you...

done, sorry for the delay

Giancarlo
Bitfinex Team

Thank you... :-)

[MAbtc]

UPDATE

Just to clear up things, it's better to repeat what has already been stated earlier today:

1) No coins were stolen.
2) No money was moved.
3) Our servers are safe.
4) Nobody broke into our system.
5) We use cold wallets and only a very tiny portion of our total is kept in the hot wallet.
6) The malicious trader was only able to by some coins on margin but his positions were then reversed
7) All the trades that took place before 3 a.m. GMT today were neither effected nor reversed.

We resumed trading 3 hours ago and now all is working fine, the glitch has been corrected and apart for some people that tried to take advantage of the abnormal situation the very vast majority of our customers behaved brilliantly.

Let me once more reiterate that I believe Bitfinex is a community and its people should behave accordingly and not try to take advantage on each others when things are clearly showing dysfunctional numbers.
Few people understand that if they are able to buy a coin for half price is the other part of the trade and not Bitfinex that loses something.

We will always protect customers getting exploited in their leveraged positions by market manipulators.

We surely had better days, but we emerge from this difficult event with the consciousness of having made the right thing.

Have a good day you all and thanks a lot for your support

Giancarlo
Bitfinex Team

 

Have you reversed all trades that will be reversed? 16 hours later, this is all I want to know -- something we all need to know ASAP. This market is volatile, and traders need to know if their positions from 16 hours ago are still locked in. By the time they are reversed, they may have become unprofitable. The longer this can go on, the more fucked up this is.

everything is back in place.

Let me know if you see any discrepancy, but all should be ok now.

Thanks

Giancarlo
Bitfinex Team

Whew. THANK YOU.

[Sukrim]

Sorry for being a little sarcastic, maybe I just had a bad day.
Or maybe it's just me.....

Have a good day

Giancarlo
Bitfinex Team

I'm not convinced you've caught everything that was going on last night.  Firstly, if you're rolling back trades that were profitable and those people withdrew their LTC (as they discussed while it was happening), then how much LTC in total are you compensating people?

Also, swap numbers were crazy yesterday.  My personal swap cost for my open BTC short went from $6 to $98 in five minutes - no explanation for that.

...but most importantly.  We were trying desperately to contact support last night.  Is there really no one online monitoring the system?  ALL OF THIS COULD HAVE BEEN AVOIDED IF YOU HAD SOMEONE ONLINE.

 ...sorry for all caps - I had a bad night as well.

You are right.
We cover 24/7 but yesterday the guy that was supposed to cover that time (John) was on a plane from Thailand to Hong Kong and the European guys were sleeping.
I miscalculated his flying time and thought he was flying in the evening and not in the morning.

This wont happen again in the future.

Thanks and have a good day

Giancarlo
Bitfinex Team


P.S.) I guess Murphy's law once more was applied....

<tinfoil hat>
Or it was an insider job!
</tinfoil hat>

[gizmoh]

Inside job would never give EVERYONE 17:1 leverage

[Krazy-E]

Thanks for the updates in this thread Giancarlo.

I still have a withdrawal pending for 12 hours (sent you PM with username, just in case it fell through the crack), I sent a support email, we'll see when it goes through.

EDIT : I had to convert LTC into BTC at a cheaper rate I could get at BTC-e, but the BTC withdrawal worked.  Just losing a few LTCs on the change...

[dankster]

i sent a message to support but i'll post here too.  can someone take a look at my account?  i'm in a position i should not be in and have some fees which need reversing. 

[CambioBTC]

so many newbies spitting nice words, most of them at their first message.....
after I ask for their username they all disappear like snow in the sun....
can you please PM your username to me so that I can check your position?

Thanks

Giancarlo
Bitfinex Team

Hey Chief (Giancarlo),

You can check my position on my last trade,
I held that trade open for like 19-Hours because
my P/L kept reading like $50+ dollars when I knew
that I was only like one point short from where I entered,
so I did not exit until the P/L appeared someone correct,
but still not right, meanwhile the Swap Interest shot up to like
$23 or $26 dollars on a 15 btc position, even when I exited the
P/L did not appear to be functioning correctly, I would be more
than happy with setting my balance back to whee it was before
the trade, something you might want to look into, and my handle
is my username, no need to pm.
was this a bug in the system ?, a credit would be great.

This was after I had cleared the fees point.

nothing happened to the Swap, apart for the fact that it went up a little bit due to some borrowing.
You basically closed a position where you had a profit of 23 dollars that was offset by a swap of 26 usd, landing you on a loss of 3 usd.
So what's your proposal here?
Shall we reimburse a quarter and call it a deal?

Sorry for being a little sarcastic, maybe I just had a bad day.
Or maybe it's just me.....

Have a good day

Giancarlo
Bitfinex Team

No Chief,

They were both negative,
The P/L and the Swap,
there was no profit.

And YES that was pretty ASSinine of you to make a remark like that,
I'll pull your coat-tail to something which is that is the reputation that
you are developing at TradingView.com, a reputation of being a ASS,

Now having said that I will share a Sales Story told to me by a former
Old Sales Trainer of mine that goes like this, "You can have the best
product or service in the world, but if your customer does not like you
then they are not going to buy anything from you, first and foremost
what you are selling is yourself" !

Not going to get too far being a complete ASS with your customers,
but hey, it's your Bar-B-Que, put whatever type of sauce on it you like.

It was not me that brought up your name at TradingView.com, someone
else actually referred to you as being a "Complete ASS" with your customers,
You're becoming "Infamous", I would serious suggest you hire someone to
handle your "Customer Service" and take a backseat yourself.

Apology, "Not Accepted",
You can't just say shit,
and think that apologizing makes it "O.k." !

Learned that after 8-Years in Prison,
Prison is all about Respect,
and when you falter in your Respect
you usually don't make it out of Prison "Alive" !

But don't get me wrong, had the C.I.S. "College Degrees"
Before going to Prison, was taught the Market by a
Certified Public Accountant in Prison that was doing 13-Years for moving
Money out of the USA.

As I tell everyone, Prison is just like College in the USA,
you can checkout Books from the Library that are
University Master's Level,
http://www.amazon.com/Financial-Markets-Institutions-Stock-Coupon/dp/0538482133
What else does one have to do in Prison with nothing but time on their hands besides read Master's Level TextBooks ?
There are guys in Prison / Millionaires that support their family via trading the market everyday.
Millionaires doing LIFE Sentences that were Pediatric Doctors out here in the world, still supporting their family via trading stocks.
It's just like college, just a "Dangerous College" !  


Don't think that you would last too long in Prison with that attitude of yours, just my opinion !

[Sukrim]

Well, to be honest I was thinking of applying for the position they wanted to open some weeks ago. Looking at people's responses here, I am VERY happy that I didn't.

[Helix]

so many newbies spitting nice words, most of them at their first message.....
after I ask for their username they all disappear like snow in the sun....
can you please PM your username to me so that I can check your position?

Thanks

Giancarlo
Bitfinex Team

Hey Chief (Giancarlo),

You can check my position on my last trade,
I held that trade open for like 19-Hours because
my P/L kept reading like $50+ dollars when I knew
that I was only like one point short from where I entered,
so I did not exit until the P/L appeared someone correct,
but still not right, meanwhile the Swap Interest shot up to like
$23 or $26 dollars on a 15 btc position, even when I exited the
P/L did not appear to be functioning correctly, I would be more
than happy with setting my balance back to whee it was before
the trade, something you might want to look into, and my handle
is my username, no need to pm.
was this a bug in the system ?, a credit would be great.

This was after I had cleared the fees point.

nothing happened to the Swap, apart for the fact that it went up a little bit due to some borrowing.
You basically closed a position where you had a profit of 23 dollars that was offset by a swap of 26 usd, landing you on a loss of 3 usd.
So what's your proposal here?
Shall we reimburse a quarter and call it a deal?

Sorry for being a little sarcastic, maybe I just had a bad day.
Or maybe it's just me.....

Have a good day

Giancarlo
Bitfinex Team

No Chief,

They were both negative,
The P/L and the Swap,
there was no profit.

And YES that was pretty ASSinine of you to make a remark like that,
I'll pull your coat-tail to something which is that is the reputation that
you are developing at TradingView.com, a reputation of being a ASS,

Now having said that I will share a Sales Story told to me by a former
Old Sales Trainer of mine that goes like this, "You can have the best
product or service in the world, but if your customer does not like you
then they are not going to buy anything from you, first and foremost
what you are selling is yourself" !

Not going to get too far being a complete ASS with your customers,
but hey, it's your Bar-B-Que, put whatever type of sauce on it you like.

It was not me that brought up your name at TradingView.com, someone
else actually referred to you as being a "Complete ASS" with your customers,
You're becoming "Infamous", I would serious suggest you hire someone to
handle your "Customer Service" and take a backseat yourself.

Apology, "Not Accepted",
You can't just say shit,
and think that apologizing makes it "O.k." !

Learned that after 8-Years in Prison,
Prison is all about Respect,
and when you falter in your Respect
you usually don't make it out of Prison "Alive" !

But don't get me wrong, had the C.I.S. "College Degrees"
Before going to Prison, was taught the Market by a
Certified Public Accountant in Prison that was doing 13-Years for moving
Money out of the USA.

As I tell everyone, Prison is just like College in the USA,
you can checkout Books from the Library that are
University Master's Level,
http://www.amazon.com/Financial-Markets-Institutions-Stock-Coupon/dp/0538482133
What else does one have to do in Prison with nothing but time on their hands besides read Master's Level TextBooks ?
There are guys in Prison / Millionaires that support their family via trading the market everyday.
Millionaires doing LIFE Sentences that were Pediatric Doctors out here in the world, still supporting their family via trading stocks.
It's just like college, just a "Dangerous College" !  


Don't think that you would last too long in Prison with that attitude of yours, just my opinion !

Dude... Calm down... If you hate it here so much... Then leave...

"Now having said that I will share a Sales Story told to me by a former
Old Sales Trainer of mine that goes like this, "You can have the best
product or service in the world, but if your customer does not like you
then they are not going to buy anything from you, first and foremost
what you are selling is yourself" !"

Typical salesman bs... If the product is heads and shoulders above the competition then frankly I don't give a damm what the guy selling me the product is like... (Even though in this particular case they are very friendly and helpful)...