The $65 million Bitfinex penetrate shows that it is unfit to tell a good bitcoin association from a bad one

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Bitcoin suffered nonetheless another blow final week when Bitfinex, one of a cryptocurrency’s largest exchanges, suffered a penetrate that cost a users about $65 million. Every one of a investors saw their supports unexpected dump by 36%, as a association motionless to “socialize” a losses.

The source of a confidence crack remains unconfirmed, as Bitfinex continues to work with “authorities” (it’s not transparent that ones) to pinpoint what happened. But a sum of a penetrate aren’t a usually mystery. Burnt traders are now struggling to figure out something even some-more basic—who accurately is behind Bitfinex and where are those people located?

The sell was doing $407.2 million in monthly trade volume before a hack, though there is changed small information about Bitfinex’s origins and founders.

This differs from exchanges of allied size. Kraken, a US-based exchange, lists all of a team’s vital members on a website, with photos and brief bios. Coinbase, a initial regulated bitcoin sell in a US, maintains a community page for a users and has offering a founders adult for interviews. Bitfinex has finished nothing of these things. There are no “About Us” pages to peruse, or trade-press profiles of founders.

This has caused confusion


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