Bitcoin Update: Bitfinex Planning To Distribute Loss Among Its Users.

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Bitfinex security breach

The Bitcoin is recovering after the reported hack of 119,756 bitcoins from its customer accounts. The stolen Bitcoins are approximately worth $65 million dollars. Now, bitcoin exchange Bitfinex is planning to share the loss the loss among its overall users.

?We are still working out the details so nothing is set in stone, however we are leaning towards a socialized loss scenario among bitcoin balances and active loans to (bitcoin/dollar) positions,” the Hong-Kong based company said on its website on Friday.

Bitfinex has asked its user to beware of phishing emails circulated from The emails appears to be sent from ?a email address. In a blog post Bitfinex wrote that the company has not sent any email and these emails may contain virus.The company has suggested its users to immediately delete the emails.

?We like to stress this is not a message sent out by Bitfinex and we advise anyone that has received this email or any similar email to delete it immediately,? Bitfinex wrote in a blog post. ?Do not open the attachments and if you have opened the attachments do a full virus scan of your computer. There is a strong indication that the files in the attachment contain viruses.?

On tuesday, Hong Kong based Bitfinex Exchange reported that it is halting the trading, as a result of security breach. The loss was reported around 0.8 percent of all bitcoins in circulation. The exchange promised that the proper investigation will be carried out to understand what actually happened.

Bitfinex also confirmed that the loss is limited to bitcoin wallets and none other digital token has been affected. It also promised that proper steps will be taken to fulfill the loss of the customers. They also requested their customers to keep patience meanwhile they will figure out the causes of breach.

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Nakamoto introduced the idea on 31 October 2008 to a cryptography mailing list, and released it as open-source software in 2009. However, true identity of Nakamoto is still known. Back in July, Australian businessman Craig Wright claimed that he is the founder of bitcoin.

Stay tuned to TheBitBag for more updates on bitcoin security breach!

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