Many of Bitfinex’s largest token holders have decided to exchange over 20 million BFX tokens for equity in the company’s owner iFinex, following a security breach seeing the theft of around 119,756 bitcoins at a value of over $70m. The company has also announced that it will be launching its own cryptocurrency called “XBT” which is expected to launch on July 1st 2018. The stolen tokens are yet to be recovered.
Many of Bitfinex’s largest token holders have decided to exchange over 20 million BFX tokens for equity in the company’s owner iFinex, following a security breach seeing the theft of around 119,756 bitcoins at a value of over $70m. Immediately after the hack on 2 August 2016, the company halted all transactions in an effort to rebuild consumer confidence and assess the overall damage. The stolen tokens are yet to be recovered.