Traders raise concerns as biggest Bitcoin exchange halts deposits

Source: CoinDesk

“An announcement by one of the world’s largest bitcoin exchanges has stoked fears another Mt Gox-style meltdown may be brewing. The largest bitcoin exchange by US dollar volume in recent weeks, Bitfinex revealed today it will be unable to accept incoming wires starting tomorrow, a statement that comes after it disclosed late last week that it was experiencing delays in US dollar withdrawals. … The victim of a hack last August, Bitfinex has shown a propensity to bounce back from operational difficulties. After losing nearly $65m in customer funds, it would go on to ‘socialize’ losses among exchange users, using a new cryptographic token to credit customers. The system would later win praise from supporters, who saw it as a creative way to avoid bankruptcy and pay back users.” (04/17/17)