Bitfinex Operations Restored

News and Analysis

Cryptocurrency exchange Bitfinex has announced it restored its operations, and activated depositing and withdrawing funds. All currency pairs are to be available for trading, while depositing and withdrawing is currently available for BTC, ETH, ETC and USD only.

The exchange stated that it had taken serious security precautions prior to restoring operations.

“In the past week, we have taken significant steps to ensure that we can restore service in a secure environment. We have added additional platform and infrastructure security checks; regenerated all encrypted services, including wallets, security tokens, and passwords; moved funds to multisig cold storage; re-evaluated all third-party integrations; performed a comprehensive system audit in order to identify vulnerabilities; and, rebuilt our entire platform on new infrastructure,” the statement reads.

However, users claim that withdrawal of funds remains unavailable.

The Hong Kong-based exchange’s operations were halted after an attack resulting in theft of about 120,000 BTC.

Bitfinex’s plans to reimburse the losses at the expense of users that hadn’t suffered the hack were criticized. The exchange intends to deduce around 36% from each account, replacing them with BFX tokens. The latter were issued via Omni protocol. BFX tokens are said to entitle users to have a reimbursement or a share in the company’s revenue.

Found a typo? Highlight text and press CTRL+ENTER

Subscribe to our Newsletter


Related posts

Tags: ,