Bitcoin Bitfinex Invests in Cryptographic Files

Bitfinex offers advanced services for traders and providers of liquid cryptocurrency. Traders enjoy real-time currency trading and margin trading, while liquidity providers can enjoy the largest market for peer-to-peer cryptographic financing in the world.

However, Bitfinex announced today that it has bought back all the remaining cryptographic chips it used to reimburse investors who lost funds in its August 2016 hack.

Accordingly, to major capital conversions and solid operating results, Bitfinex reduced its domestic reserves to buy the remaining tokens at their face value of $ 1, and moved to close the markets associated with them.

In full negotiation, officials in the exchange said that all so-called “BFX chips” have been destroyed, and that investors have been reimbursed with US dollars. The repayment occurred today from 20:00:00 UTC, with requests for funds installed in 45 minutes. During that time, trade in the BFX signal was halted and all margin positions were settled.

It should be noted that the move follows the hack of August 2016 in which investors received a 36% cut to offset a cut that drained 120,000 BTC from exchange reserves. BFX witnesses represented a capital obligation to return 36% to the users of the platform in the future.

This is not the first internal buyback of BFX orchestrated by Bitfinex, since the exchange bought 1% of the tokens in September 2016.

Likewise, $ 1 nominal tokens had traded between $ 0.49 and $ 0.65 for most of 2016, surrounded by doubts that the exchange would never be able to recover nearly $ 72 million in Value lost after the security breach. That price rose to $ 0.89 by March 1, 2017 after a heavy period of heavy trading volume in the cryptocurrency markets.


Warning: CryptoSolutions is not responsible for the opinions expressed in this article. The ideas and opinions expressed in this article do not represent a business opportunity of any kind and the reader should be properly advised before making a financial or legal decision.

You may also like