Update,
the funds stolen are 119,756 btc. that means aprox 60 millions USD
Do you think that Bitfinex will cover this amount and it will business as usual?
the funds stolen are 119,756 btc. that means aprox 60 millions USD
Do you think that Bitfinex will cover this amount and it will business as usual?
Definitely not. They only earn on trading fees. I was surprised to even see bitstamp make it back after being hacked for 18K bitcoins. 120K bitcoins is not covereable in any manner. They don't even have assets to continue.
Bitstamp has some investors as backup and 5 MIL are not like 60 MIL USD. Bitfinex is alone and even they have 60 mil, they will never cover this loss. They will close the website and they will live their life without any headaches with the money they earned until now.
I know bitfinex is alone and not insured, however there is still a possibility the fault lies with bitgo from where the funds were stolen. Bitgo unlike bitfinex is insured, but I am not sure how this will all play out. The insurance MIGHT come into play if it happens to be bitgo's fault.
I am not sure if this will calm down someone who has a lot of money in Bitfinex's shit platform
Wait for another 4-5 hours until China will wake up...The price will drop substantially.