Published on May 18th, 2017 | by bitcoin0
Bitfinex comes back from robbery
After hackers stole $69 million from Bitfinex last year, the bitcoin exchange’s fate seemed sealed: lawsuits, bankruptcy and years of liquidation proceedings.
The exchange posted its most profitable month and claimed its spot as the largest bitcoin venue for U.S. dollar trading.
Assuming the strategy doesn’t unravel down the road, Bitfinex may prove to be a valuable template for how the bitcoin community deals with a crisis in the future.
Bitfinex’s executives don’t work in a single location, but are peppered throughout the U.S., Europe and Asia.
Even though some people’s bitcoin weren’t stolen, the exchange had a margin lending system that affected almost everyone.