Bitfinex to slowly re-enable user access after hack

Crime | August 4, 2016 By:

Bitfinex is planning to restore full functionality of the platform in progressive stages following its announcement that it had been hacked and robbed of nearly 120,000 bitcoin earlier this week.

“We are currently in an ongoing process of restoring limited functionality in a secure environment, with full functionality coming afterwards in progressive stages. The first step is bringing the site online and allowing users to login and view the state of their accounts. Note that initially trading, deposits, withdrawals, and other core site functionality will be disabled,” said Bitfinex.

It further said that all withdrawals, open orders, and open funding offers will be canceled to accommodate the relaunch. Moreover, as settlement in the affected accounts is required for computing losses, the exchange said that margin positions for all pairs will be settled and closed using the midpoint of the bid and ask on August 2, 2016 at 18:00:00 UTC.

Bitfinex is a Hong Kong-based digital currency exchange.