Site Update

Today, August 10th, 2016, at 16:00:00 UTC we will be enabling additional platform features as we continue to restore service after the incident on August 2nd. Exchange trading will be enabled for all currencies and pairs, while deposits and withdrawals will be enabled for BTC, ETC, ETH, and USD – with LTC and Tether to follow shortly thereafter. Exchange trading will also be enabled for the BFX token on pairs BFXUSD and BFXBTC. We are working on tokenizing BFX via the Omni Layer to allow withdrawals for the BFX token, but we are still working out some protocol level details. Please note that U.S. residents will only be able to sell—not buy—BFX tokens at this time. Terms for the BFX token are available here. Requirements for token transfers are here. Parameters for assigning Margin Trading will be re-enabled for non-U.S. residents later this week.

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.

Please note that we have invalidated all deposit addresses that were generated before August 9 19:00:00 UTC for all cryptocurrencies except Tether USDT. Please do not deposit to these older addresses as this will cause substantial delay in deposit processing. All deposit addresses now shown on the site or generated by the API are the new addresses. Please be sure to use these new deposit addresses when depositing cryptocurrencies.

We are aware that many questions remain and we intend to discuss the theft, the distribution of losses, and our recovery plan in follow-up announcements. We are trying to be as transparent as we can be while we continue to try to make the best of a terrible situation. We regret the loss that took place, but we continue to remain confident in Bitcoin, the trading community, and our plan to compensate our customers. As always, we remain open to constructive commentary and suggestions from all sides.

21 Comments
  • Sterett Seckman
    Posted at 14:45h, 10 August Reply

    Hey guys, the links are empty (http://#)

    BFX info is here: https://www.bitfinex.com/bfx_token_terms
    Token transfers is here: https://www.bitfinex.com/bfx_token_transfers

    • admin
      Posted at 15:00h, 10 August Reply

      Fixed, thanks for the feedaback

  • igor N.
    Posted at 14:55h, 10 August Reply

    Good job Bitfinex team!

    I stay work with you, and hope that such unpleasant incident serve as a lesson! Wish everyone – dont panic, in course of time we will refund losing together!

  • Eugene
    Posted at 15:57h, 10 August Reply

    Amazing! Staying loyal with Bitfinex!

  • zby
    Posted at 16:04h, 10 August Reply

    It is 16:03 – but USD withdrawals still don’t work.

    • admin
      Posted at 16:13h, 10 August Reply

      Check again please

  • Gonzalo Santacruz
    Posted at 20:15h, 10 August Reply

    Your site doesn’t work on my smartphone as it worked before the theft. Do something to fix it, for some reason the is a white space growing everything second which causes a automatic scroll, this way is imposible to work with the site.

    Also, at 16:40, when I connected the trading buttons were not visible so it was imposible to sell your worthless BFX token at 1,00 USD. NOW THE VALUE IS LESS THAN 0,40 USD. So your way to share the losses (for me you stole me) was not the best for me ovbiously (and I had no BTC, so why I have to loss my money).

    Please read my support ticket.

  • BFX User
    Posted at 20:21h, 10 August Reply

    Would be lovely to access and withdrawal my funds or move assets between wallets but all I get is the error:

    “”Your BitGo wallet has been frozen and cannot be properly accounted for. Withdrawals are locked until this has been resolved. Please contact support.”

    I contact BitGo Support, Bitfinex Support – neither of which has been able to help.

    BitGo confirms there are no freezes on my wallets and that Bitfinex has indeed “overflagged” my account.

    Bitfinex support simply keeps asking me over and over again what the problem is. With 2-3 hour wait times between messages. I would really appreciate access to my 5 figures of funds before you get shut down again and my BFX are worthless…

  • john
    Posted at 22:47h, 10 August Reply

    What about TetherUSD withdrawal?

    • admin
      Posted at 07:25h, 12 August Reply

      Will be enabled soon

  • Salty
    Posted at 02:38h, 11 August Reply

    This update doesn’t apply to many US customers, who are blocked from all trading and withdrawals with no ETA on resolution.

  • Michael
    Posted at 15:58h, 11 August Reply

    What is the long term plan for the BFX tokens? Will Bitfinex buy them back for 1 USD each to pay back the funds that customers lost?

    I don’t know what this means:
    “The token is intended to be redeemed to the extent of its ratable share of the recoveries and may in any event at any time be redeemed by the Bitfinex Group at the Bitfinex Group’s sole option for its face value less the amount of any prior redemptions.”

    Face value does not mean current price i hope, that’s about 0.3 USD at the moment.

    • Michael
      Posted at 10:37h, 14 August Reply

      I’d really like a reply. Do you know the answer, or will it be addressed in a future update? Also could you translate into non-legalese what i quoted in the above reply? Thanks 🙂

      • admin
        Posted at 11:01h, 14 August Reply

        Some users have chosen to sell BFX tokens already and by doing this they have transferred the claim of $1USD per token to the buyer but have also “cashed out” and recovered some of their loss. This has also pushed the price down to it’s current levels.

        There is no guarantee that the tokens will be redeemed at $1USD by Bitfinex but this is our goal, we feel that this can be achieved by a variety of different methods including (but not limited to) recovering the stolen coins, adding outside investors or by slowly building up funds through running a profitable trading platform; obviously this means that we have no clear timeline for this.
        Please see additional information regarding the BFX tokens at https://www.bitfinex.com/bfx_token_terms

  • ABE6
    Posted at 17:17h, 11 August Reply

    USD Express withdraw has worked for me from my Bitfinex account. I received 63% of the money I had on the exchange.
    Is this cackling gnomish shithead “Bruce Wanker” really responsible for the Bitfinex hack?

  • Concerned
    Posted at 06:35h, 12 August Reply

    So you guys are refusing to put up comments that aren’t positive?! What cowards!! This goes against all principles of altcoins – openness and transparency. You allow people to openly express themselves or they’ll turn to alternate options to voice their concerns – and possibly switch platforms altogether. I hope you fix not just your technical problems but your customer service strategy as well – it is absurd and dictatorial to filter and cherry=pick favorable comments.

    • admin
      Posted at 07:35h, 12 August Reply

      Please note that each comment is manually approved and this process could require time especially when we receive many of them. If you have a look at previous comments, also in previous articles, you will see that they are not all positive. Everyone has the right to express his opinion using a respectful language. Also please not put your personal information as your username + email, etc. in the comment, if you need a specific suggestion on your account please contact support@bitfinex.com

  • Alex
    Posted at 07:09h, 12 August Reply

    Thank you Bitfinex team for resolving this major issue professionally and quite optimistic. We come through a lot of challenges in our life, in our businesses. Even a huge top companies get hacked yearly.
    I truly believe Bitfinex has improved simnifically their security and undertook a serious work with their team and may be filtered some individuals. I still loyal Bitfinex customer and believe that by supporting the platform we can reach new horizons with better security layer, team and who knows which result we get in the future with BFX tokens.

  • Angry User
    Posted at 01:57h, 13 August Reply

    ETA on when you are going to allow US verified customers do access the life rafts of your sinking ship? None of us can withdrawal or transfer funds due to messages about accounts frozen due to BitGo or Synapse. This is unacceptable and opens you to litigation and freeze on your accounts essentially risking your company, customer funds and Bitcoin economy when it would take an hour at most to fix these accounts. Do the right thing.

    • admin
      Posted at 15:26h, 13 August Reply

      Please open a ticket with support@bitfinex.com and they will help you to proceed in this operation

      • Angry User
        Posted at 00:48h, 14 August Reply

        I opened a request the day you came back up. I’ve received one reply in that entire 5-6 day timeframe asking for my BitGo key (which I had already provided). Nothing but radio silence for me and every other user having this problem.

        Please address this issue with some added focus. You unlocked accounts for users that were using Synapse but have left your BitGo users to sit and pray. I could provide upwards of 30 support cases that have been opened with your team from users that have been completely ignored.

        This is what was meant by “do the right thing”. You are obviously aware of the issue, solution and status but nothing is being done. Meanwhile you had time to get margin trading back up so you don’t lose more money (and we continue to).

Post A Comment