The bitcoin exchange Bitfinex has said it is considering sharing losses among all its users after around $70 million worth of bitcoin was stolen earlier in the week.
Bitcoin Hack Update August 5 2016
"We are still working out the details so nothing is set in stone, however we are leaning towards a socialized loss scenario among bitcoin balances and active loans to (bitcoin/dollar) positions," the Hong-Kong based company said on its website on Friday.
Bitfinex revealed it had been hacked on Tuesday and suspended trading, causing prices of the digital currency to fall significantly. A total of 119,756 bitcoins, worth $68 million at current prices, were reportedly stolen as a result of a security breach.
The company added in its latest statement that nothing had yet been decided and it was still settling positions and account balances.
Author: Luke Graham
News Assistant, CNBC.com
Full article Here http://www.cnbc.com/2016/08/05/hacked-bitcoin-firm-plans-to-spread-losses-across-all-users.html
I upvote U
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@arcaneinfo, I've seen a few people state that they believe the hack was an inside job. Their arguments were rather compelling.
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It really makes me wonder HOW this could have happened. I'm nowhere near being a hacker but I'm nervous enough about losing the pennies I've earned here (being new to cryptocurrency and all) I can't even tell you how many places I've stored my ridiculously long password and keys to steemit...and it just boggles my mind that anyone could break the security. It kind of makes me wonder - if being open sourced and logged on a blockchain, exactly HOW SECURE could it be? (Please excuse my ignorance on this issue.)
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