Cybersecurity
Inside Bitfinex's Comeback From a $69 Million Bitcoin Heist
- Bitcoin exchange dodged bankruptcy with markets-centered plan
- Sets precedent for dealing with digital currency disasters
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After hackers stole $69 million from Bitfinex last year, the bitcoin exchange’s fate seemed sealed: lawsuits, bankruptcy and years of liquidation proceedings.
That’s what happened to Mt. Gox, the high-profile marketplace for trading the virtual currency, which lost $480 million. There were also other smaller implosions such as Cointrader and Bitcurex.