Posts Tagged ‘Bitfinex’

Security Breach on Bitfinex, Trading Was Halted

2, Aug 2016

bitfinex-logo

The crypto currency exchange Bitfinex has officially announced that it has experienced a security breach and as a result had to halt trading and stop access for everyone until the situation is resolved. As a result of the hack it seems that the funds of some users of the exchange have been stolen, but nobody knows how bad the situation was apparently. The markets have immediately responded with a sharp drop of the Bitcoin price, a further drop of the already declining BTC exchange rate in the last days…

Below is a quote of the official announcement about the security breach at Bitfinex:

Today we discovered a security breach that requires us to halt all trading on Bitfinex, as well as halt all digital token deposits to and withdrawals from Bitfinex.

We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen. We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up.

The theft is being reported to — and we are co-operating with — law enforcement.

As we account for individualized customer losses, we may need to settle open margin positions, associated financing, and/or collateral affected by the breach. Any settlements will be at the current market prices as of 18:00 UTC. We are taking this necessary accounting step to normalize account balances with the objective of resuming operations. We will look at various options to address customer losses later in the investigation. While we are halting all operations at this time, we can confirm that the breach was limited to bitcoin wallets; the other digital tokens traded on Bitfinex are unaffected.

We will post updates as and when appropriate on our status page, bitfinex.statuspage.io. We are deeply concerned about this issue and we are committing every resource to try to resolve it. We ask for the community’s patience as we unravel the causes and consequences of this breach.

More Bitcoin Exchanges React to the BitLicense

9, Aug 2015

ny-bitlicense

New York’s controversial BitLicense has driven away two more Bitcoin exchanges away from NY, these are Kraken and Bitfinex who are not going to be applying for the BitLicense at this time. Both exchanges will stop servicing clients living in the state of New York in order to avoid complications due to the financial regulation change. Another large Bitcoin exchange, namely BitStamp, apparently has plans for applying for a BitLicense in order to be able to continue to operate in New York. The biggest concerns that people have with the BitLicense regulations is regarding their privacy and since Bitcoin and crypto currencies are more privacy oriented it is no wonder that crypto currency businesses decide to get out of NY instead of applying for BitLicense.

The Tradewave Platform Now With Support for Live Trading

6, Sep 2014

tradewave-live-trading-available

Tradewave, a cloud-based trading platform using automated trading bots that you can create and customize has launched a live trading option as previously users were able to only create and backtest strategies (our brief check of the service). Tradewave is very similar in concept to the Cryptotrader service that we have reviewed already, however there are quite a lot of differences between the two. Tradewave uses Python for writing the trading bot code directly in the browser and then the bot runs in the cloud doing the trading for you, so you don’t need to worry about downtime or have to leave your computer on and connected to the Internet all of the time. The service offers free functionality for creating bots and backtesting them, but in order to get access to live trading functionality you will need to upgrade your account for $19.99 USD a month ($10 USD a month at Cryptotrader for the cheapest live trading plan). At the moment Tradewave offers live trading support at the following crypto currency exchanges: Kraken, Bitstam, BTCe and Bitfinex, however the services does support only the primary BTC and LTC for USD/EUR trading pairs and not all crypto currencies supported by some of the exchanges.

– For more information about the Tradewave automated bot crypto trading platform…


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