The First “Bitcoin Bail-In”: All Bitfinex Users To Lose 36% In “Shared Loss” After Historic Hack

Last week’s sharp, 30% plunge in the price of bitcoin (and its latest competitor, ether), after news hit that 119,756 bitcoins, or about $70 million, had been stolen from the Hong Kong-based bitcoin exchange Bitfinex, demonstrated once again the biggest risk with digital currencies: despite claims to the contrary, outside hacks remain a key threat and risk to anyone holding (obviously, we use the term loosely) digital currencies.

R.I.P. Cash 2016 Pt. IV; Japan Going Bitcoin?; A Goldman Sachs Creation