Bail-in for users of hacked bitcoin exchange costs them 36%

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Hacked Bitcoin Exchange Users to Lose 36%

By Yuji Nakamura
Bloomberg News
Saturday, August 6, 2016

Hong Kong-based Bitfinex said all users will lose 36 percent of their deposits after the bitcoin exchange concluded its review of a $71 million hacking attack.

To compensate its customers, Bitfinex said, users will receive tokens that may later be redeemed or exchanged for shares in its parent company.

Following the announcement, bitcoin climbed to $594 as of 10:55 a.m. on Sunday in Tokyo, based on prices from Coinbase. The virtual currency dropped 12 percent to $577.23 in the week through Friday, its largest weekly decline since June, according to Bloomberg prices. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-08-07/hacked-bitcoin-exchang...



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