BITFINEX thinking about a socialized loss distribution after the 2nd August hack

in #news8 years ago (edited)

 From a tweet:

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 BTCUSD positions. The numbers being quoted are erroneous as nothing has been decided as of yet and we are still in the process of settling positions and balances. More details are to follow tomorrow along with a FAQ answering most of the questions we have been asked over the past couple days. 

                                                                 


Is it really a decentralized world a place when some event occur, all of sudden there are no laws or regulation to establish what will happen, leaving the power in one/few men's hands?

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In the end, who will gain the most?

This is quite an interesting stance on the issue.

Actually CFTC regulation prevented Bitfinex from using cold wallets