Tag: loss

A Man Lost $60M Worth of Bitcoin by Throwing out the Wrong Hard Drive

A lot of people showed an interest in cryptocurrency back when Bitcoin was first created. Despite its niche appeal, it was incredibly easy to mine in rather large quantities. Unfortunately, a lot of people have since lost their Bitcoin holdings. One particular holder lost close to $60 million worth of Bitcoin due to a lost hard drive. Securely Storing Bitcoin is Important Considering that Bitcoin has been around for over nine years now, …
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Bitfinex To Socialize Losses: Customers Will Lose 36% of Deposited Funds

After missing the announcement deadline, Bitfinex has finally decided to share with its customer the plans for re-enabling withdrawals: Customers funds will receive a 36.067% ‘haircut’ on all assets. At the core of the statement, Bitfinex said: After much thought, analysis, and consultation, we have arrived at the conclusion that losses must be generalized across all accounts and assets. This is the closest approximation to what would happen in a liquidation …
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