Hi Steemians,
A fellow Steemian recently posted his theory on the Bitfinex hack being actually false. In simple words and in just a paragraph this is the theory:
"When Bitcoin price was at it's peak in June, Bitfinex itself shorted a lot of BTC (sold a lot of BTC without having it) without having actual underlying funds to backup those short positions, after that, given that the price was unable to dump enough for them to settle their short positions (buy back the BTC they had sold without having it) they crashed the site on purpose to dump the price hence allowing them to recover the BTC. After this happened they continued to short BTC (without underlying funds again) hoping that Brexit won't happen and that would dump BTC price further BUUT Brexit did happened and BTC price did not crash hence making Bitfinex insolvent (lacking a lot of funds)"
The actual theory is this: https://steemit.com/news/@r0achtheunsavory/bitfinex-is-lying-about-the-hack-and-i-can-tell-you-exactly-what-likely-happened
What do you think about this Steemians? I hope it is not truth since I had more than 3,000 dollars in Bitfinex.
Thoughts or comments?
