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Bitfinex users to share 36 percent of losses after Bitcoin hack

Tuesday 9 August 2016 00:05 CET | News

People who stored Bitcoins at a popular exchange have been told they will lose 36% of their assets following a cyber-attack.

Hong Kong-based Bitfinex, where many users had stored the virtual currency to be used in transactions, said it lost up to USD 65 million in an attack.

The impact of the loss will now be shared across the site’s users. Customers were also told that they would receive a BFX token equal to their personal losses.

These tokens will eventually be exchanged either for repayment by Bitfinex or for shares in its parent company iFinex. Bitfinex has said that a total of 119,756 Bitcoins were taken by hackers.

Following the news that Bitfinex had suffered a substantial loss of Bitcoins, the price of the cryptocurrency fell by more than 20% - though it has since rebounded slightly.


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Keywords: Bitcoin, mining, cryptocurrency, digital currency, online payments, online security, online transactions, Bitfinex
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3