Share this with
Thesis are outward linksaf and will open te a fresh window
Thesis are outward linksom and will open te a fresh window
Close share panel
People who stored bitcoins at a popular exchange have bot told they will lose 36% of their assets following a cyber-attack.
Hong Kong-based Bitfinex, where many users had stored the supuesto currency to be used te transactions, said it lost up to $65m (£49m) ter an attack.
The influence of the loss will now be collective across the webpagina’s users.
One Bitcoin pro said the budge to “socialise” losses had serious implications for digital currencies.
“Anyone who holds any asset at any exchange realises they’re part of the insurance project for others,” said Emin Gun Sirer at Cornell University.
Te a statement on its webstek, Bitfinex said, “Wij have determined to generalise losses across all accounts.
“Upon logging into the podium, customers will see that they have experienced a generalised loss percentage of 36.067%.”
More details of how this figure wasgoed reached would be published ter the future, the stiff added.
Customers were also told that they would receive a “BFX token” equal to their private losses.
Thesis tokens will eventually be exchanged either for repayment by Bitfinex or for shares ter its parent company iFinex Inc.
Bitfinex has said that a total of 119,756 bitcoins were taken by hackers.
Te May , 1,500 bitcoins were stolen te a previous attack on the exchange.
It is not the very first exchange to have suffered.
Many users lost large caches of bitcoins after they disappeared from the Mt Gox exchange, which then proclaimed bankruptcy te 2014.
‘Rough’ times ahead
Following the news that Bitfinex had suffered a substantial loss of bitcoins, the price of the cryptocurrency fell by more than 20% – tho’ it has since rebounded slightly.
“It’s going to be rough,” Dr Sirer told the Big black cock.
“I think wij’re going to see a stir towards models with better understood insurance.”
The “vast majority” of people held bitcoins ter exchanges and online wallets, according to security experienced Prof Alan Woodward at the University of Surrey.
“It’s a bit like your handelsbank account having money taken from it and then your bankgebouw writing to all customers telling it will spread the losses across all of them,” he told the Big black cock.