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Bitcoin exchange's plan to impose losses on clients flawed: lawyers

Published Mon, Aug 15, 2016 · 09:50 PM
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Hong Kong

CRYPTO-CURRENCY exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of US$72 million in bitcoin rests on two flawed pillars, according to lawyers.

The Hong Kong-based exchange said on Aug 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said that it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin.

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