Bitfinex customers offered equity in compensation for bitcoin lost in hacking

Bitfinex customers offered equity in compensation for bitcoin lost in hacking

Customers of bitcoin exchange Bitfinex are being offered equity in the company in compensation for the losses imposed on them following the hacking of the exchange in early August.

Under the deal, customers who were issued BFX tokens following the decision by the company to socialize the losses caused by the hack will be able to use those tokens for equity in iFinex, Inc., the British Virgin Islands-based parent company of Bitfinex.

The management of the equity issue is being handled by bitcoin equity crowdfunding service BnkToTheFuture (Bnk To The Future Ltd.) who will be facilitating the exchange of tokens via a Special Purpose Vehicle (SPV).

“When clients’ funds are stolen from an exchange that is the size of BitFinex, we need to (where possible) focus on finding good market solutions that can potentially compensate investors faster than traditional proceedings,” BnkToTheFuture Co-Founder and Chief Executive Officer Read more ... source: TheBitcoinNews

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