Bitfinex says expects ‘socialized loss’ for $72 million bitcoin hack

  • HONG KONG (Reuters) – Hong Kong-based crypto-currency exchange Bitfinex, from which hackers stole about US$72 million worth of bitcoin this week, said on Friday that it expected to “socialize” the losses among bitcoin balances.
  • The theft accounted for about 0.75 percent of all bitcoins in circulation.
  • The price of bitcoin plunged more than 23 percent on Tuesday when news of the hack became public, trading as low as $465.28 on the BitStamp platform BTC=BTSP.
  • In dollar terms, the theft of the 119,756 bitcoin revealed on Tuesday was the second-biggest security breach ever of a digital currency exchange.
  • The exchange, which is known for its liquidity in the U.S. dollar/bitcoin currency pair, did not explain what that would entail.

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By Clare Baldwin HONG KONG (Reuters) – Hong Kong-based crypto-currency exchange Bitfinex, from which hackers stole about US$72 million worth of bitcoin this week, said on Friday that it expected to “socialize” the losses among bitcoin balances. In dollar terms, the theft of the 119,756 bitcoin


Bitfinex says expects ‘socialized loss’ for $72 million bitcoin hack