Post
Topic
Board Exchanges
Re: BTC-e hacked ??
by
deisik
on 26/07/2017, 09:48:24 UTC
My funds were in USD. Does that mean I'm safe even if bitcoins were stolen?

That's unlikely though it would greatly depend on the scale of the hack (if there is any)

Approximately a year ago (on August, 2nd, to be precise) Bitfinex got hacked, and over 120,000 bitcoins had been stolen. The exchange socialized the losses among all exchange clients, i.e. the clients' funds were diminished appropriately, and they were given so called redemption tokens covering the loss, which could be traded for dollars and bitcoins. By now all these tokens have already been extinguished, which basically means that Bitfinex paid out their debt in full. On the other hand, when Bter got hacked for over 7,000 bitcoins in February, 2015, only Bitcoin holders were affected at the time. I had doges back then, and I successfully withdrew them all as soon as Bter became operational again in about two weeks after the hack