Should we be worried with Bitfinex?

[jseverson]

I would be quite worried if I had any amount of money in Bitfinex. Nothing can be proven at this point, but circumstantial evidence points to the fact that they are pumping Tethers.

Check out this article: http://www.trustnodes.com/2017/11/17/tether-bitfinex-new-mt-gox

The entire situation is completely and utterly shady and it's not going to be good for Bitcoin as a whole if Bitfinex turns out to be another Mt. Gox. They better come out with an official statement soon clarifying the allegations point by point or they're going to lose customers and inevitably fail, whether the allegations are true or not.

[jech1028]

Bitfinex will be bitfinex. we cannot remove the risk but that risk is the same with other exchanges. As far as my research is concerned, bitfinex is alot more stable than other exchanges.

[aardvark15]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

The only problem I ever had with Bitfinex was that they stopped supporting American customers. I used that exchange some in the past to trade Bitcoins and then Iota when that coin came available but as soon as they stopped allowing American customers, I had to withdraw everything and use other exchanges. I have heard issues concerning USDT and I think that is related to the US customer issue, but I don’t know the final outcome of that issue.

[lighpulsar07]

Well the news says it all bitfinex seems shady after the hack and after wells fargo dispute and say that they are solvent in their twitter account eh?  How can so sure that they are solvent if they aren't showing their books and financial position to the public? So the FUD and the rumors of their insolvency be stopped for once and for all

[audaciousbeing]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

Exchange sites by default should not be trusted no matter how much reputation they have garnered over the years and this big names have not stopped in ensuing that their trust is being ridiculed by those who have invested trust in them though. The issue around here is that until there are decentralised exchange sites, this issue will  continue to be a reoccurring issue.

For the pumping of bitcoin, I don't think the credit should be given to Bitfinex alone because even though they might be large, they don't define what happen in the entire crypto market. The market is very much larger than what they could control in my opinion.

[endlasuresh]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

These days we need to worry everything, since these people are doing some bad things and I seen about Bittrex in the past not it is time to Bitfinex. I am not a member, but these all trading platforms look same things.

They are generating reputation in the beginning and later doing same things because they are seeing lot of funds from investors.

[Abebittalk23]

I am not one to insight fear or panic amongst anyone but I have grown leery over bitfinex for some time now. Ever since United States customers were bared from lending usd via funding accounts I chose to steer clear of bitfinex. I won't give financial advice on a forum but I will say there is a degree of merit for a healthy sense of skepticism when it comes to bitfinex.

[Kakmakr]

After these rumors about USDT I took my money from Bitfinex. I think it's better to wait a bit until things die down.

I'm still surprised that after the 'hack' on bitfinex people had the audacity to still go ahead and trade with them, let alone leave a good portion of their trading money their.

This should be the last straw for a company like BitFinex, who has stolen money from people and is now supporting the scam of the tether. It's all going to pop.

Yes, you should be highly worried, leave BITFINEX IMMEDITATETLY.

I think most of those people got their money back. <Bitfinex issued tokens for the lost money and then they bought back those tokens> Nobody really know what happened there and how they got the money to pay for that, but their doors stayed open for business.

Things looks a bit dodgy with Bitfinex, but they honoured their promise to reimburse people for their loses, which is a positive thing to take out of this.

[nexus2k14]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

Bitfinex may pump and try to manipulate the price of many coins, it's not a secret that many exchanges boost trading volume too, its manipulation to increase profit, the bigger volume will attract new investor and for sure you will have a more attractive price. Exchanges are also a victim of hacks and often lose money.
 I am not very surprised they try to increase profit in any possible way including price and volume manipulation.

In August 2016 Bitfinex was hacked and around 120,000 bitcoin was stolen this can explain why exchanges can't be trustworthy and will always do anything possible to increase profits.

[Herbert2020]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

people have been shouting lots of shit about bitcoin ever since it was created, like from day one. and one of the things they love to shout repeatedly ever since 2013 is saying blank is the next mtgox and bitcoin is going to die because of it. they have even been seeing the same chart and call each price (nearly every $100 step) as the top of the "bubble" like $1200 was for mtgox

it has never been true and it never will be true either.
mtgox was like the only exchange of 2013 which controlled nearly all the bitcoin market (it had about 80% of volume which might as well be 100%). in comparison bitfinex has only less than 10% of the total volume and the volume coming from USDT is much less than this which makes it negligable.

unless you think some exchange can pump bitcoin price globally with that kind of "share of the market", then there is no way what you said is true.

[bitart]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

These days we need to worry everything, since these people are doing some bad things and I seen about Bittrex in the past not it is time to Bitfinex. I am not a member, but these all trading platforms look same things.

They are generating reputation in the beginning and later doing same things because they are seeing lot of funds from investors.

What's the problem with Bittrex? Does it also involved in the tether gate? I'm just a bit worried that if a lot of people cry wolf (Bitfinex will crash in the near future) it will make itself true, because people will start to ignore the exhange and this precaution will cause the real problem... So as I don't have the information, I'm just worrying because we don't need another MtGox... I don't want to see bitcoin in the news because of this, we should go towards to mass adoption, which needs positive news.

[kitty_chan]

I did research of negative bitfinex news but I haven’t decided yet whether I should step away from bitfinex. To minimize the risk, I should leave but  I like their trade view and hope they are not to be next Mt gox..

[tamango]

News or not, I think the advice is always the same. do not hold crypto/money in any exchanges. Use them just for the buy/sell operations and then send to your wallets.

[jjacob]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

We should be very, very worried about its impact on the entire Bitcoin ecosystem. Nobody should be foolish enough to leave their coins on any exchange, least of all BItfinex. But Bitfinex collapse would affect everybody, not just Bitfinex customers.

[pugman]

It seems that there have been a lot of people complaining about Bitfinex. It seems that Bitfinex has been using Theters to pump Bitcoin price. Now a lot of people is shouting this might be the next MTGOX.

What is your opinion on this one?

People say that bitfinex's thing is tether and they print dollars and what happened now is it got hacked, and the price got pumped, without any actual money invested in it. Now the people who are shouting that bitfinex could be next Mt. GOX is because they are kinda jealous, and the bitfinex users are worried about their money getting lost, so now the number of bitfinex users are declining. I can't say whether or not bitfinex would be the next Mt. GOX or not, but the dev team should come up with a solid plan B from next to protect the community.

[william8829]

Concern is a good word.  I think alot of us have a funny feeling about Bitfinex.

This made gave me a nervous chuckle.  If you go to Bitfinex Wikipedia page you will see at the bottom only one 'see also' link ; Mt Gox

https://en.wikipedia.org/wiki/Bitfinex

[markloopz]

I think the US regulators will close Bitfinex soon. Or they will blow with the money.

[DooMAD]

I'm still surprised that after the 'hack' on bitfinex people had the audacity to still go ahead and trade with them, let alone leave a good portion of their trading money their.

This should be the last straw for a company like BitFinex, who has stolen money from people and is now supporting the scam of the tether. It's all going to pop.

Yes, you should be highly worried, leave BITFINEX IMMEDITATETLY.

People rarely heed the warnings, though.  Pretty sure I gave out a few strongly worded admonishments when concerns were first raised about Gox.  I even photoshopped their logo to say "emptygox".  I told people to take their money out, but some dozy eejit replied to me stating they were doing the complete opposite and putting more money in because they thought they'd make a profit.  I'm assuming they lost it all.     

[jeffer8035]

if that bitfinex seems to be a cheat and what is an echo is that it falls of value you have to be aware and withdraw the money because we do not know what your intentions are with us investors

[Divinityxd]

Bitfinex Lists 12 New ERC20 Tokens, Altcoin Market Signals Recovery

In its latest announcement, Bitfinex introduced 12 new ERC20 tokens on its trading platform. The exchange made a special notification of the stable coin Dai that is the main competitor of Tether (USDT) which holds the same CEO as Bitfinex reportedly.

Read here : https://coingape.com/bitfinex-lists-new-erc20-tokens/