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

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

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.

Bitcoin

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