I doubt there will be a hardfork. But I still can;t imagine 120K coins were hacked. How is that even possible when they had multisig enabled ?
Already hit 482, at this rate we might even see 400 by morning. The miners and the CHinese haven't woken up yet. I fear we might drop much lower post that.
120k btc stolen + no insurance for Bitfinex
From what I have read, there is a possibility that its bitgo's fault on the hack, and if thats the case then they do have insurance. But I doubt it will get all this covered. We will know once the company releases an announcement about it.
How come they lost so much? Aren't they storing cold?
No. Users had multisig addys. They didn't use hot/cold.
can you (or anyone else ) explain the 2/3 keys needed to move the coins?
1 is the client
1 is bitfienx
what's the 3rd???
No. Client held no keys. One is finex. Two is bitgo. The third I think is also finex (offline). Either way is a shitty implementation.
Just read the representatives reply on this. They say bitgo was only for ETH market and not the bitcoin market. So no hope of recovery from there.
From what I have read, there is a possibility that its bitgo's fault on the hack, and if thats the case then they do have insurance. But I doubt it will get all this covered. We will know once the company releases an announcement about it.
didn't bitpay recently fail in an insurance claim?
You mean you expect an insurgence co to pay out because CTO knowingly bypassed security protocall and told CEO "Yo broster, send over some coinz to this addy!" because wanted concert tix or some shit?
Evol insurance companies... Can't trust them.
Read my post before you. Apparently bitgo had nothing to do with the bitcoin market. It was the ETH they are responsible for , which right now is safe.