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