3 ms·

"hacked" = "stealing from your own website"

• ikeboy 11y ago
  That would only be if they took customers' funds. They're saying that they'll eat the loss.
  • bdcravens 11y ago
    That's only fully realized if all customers pull out funds. If they're operating a fractional reserve, that's just a statement, nothing more. (There's zero reason why every exchange can't prove they're 100% funded on a regular basis)
    • ikeboy 11y ago
      How would they prove how much they have in deposits?
      • alvarosm 11y ago
        See https://www.cryptocoinsnews.com/bitfinex-passes-stefan-thomass-proof-solvency-audit/ https://www.cryptocoinsnews.com/bitfinex-passes-stefan-thoma... and https://www.bitfinex.com/pages/audit https://www.bitfinex.com/pages/audit But even if you trust that (just think that they could borrow the money or convert usd to btc specifically for the audit), it's only the BTC part. They have tons of USD deposited too, there's no proof for that. So there's no definitive proof that any exchange holds all the value it owes to its depositors.
• towelguy 11y ago
  > will be fully absorbed by the company So they'll pay with the money they stole themselves? At least they got some publicity out of it.