Bitfinex Publishes Reimbursement Plans: 36% Haircut and Outstanding Tokens

August 7, Bitfinex website posted a message stating that the service will be back online soon. In two days’ time, the website will run in a restricted mode, thus enabling the customers to check their accounts.

The message also clarifies how the exchange is going to reimburse the losses. For that purpose, they are going to deduct 36.067% from each account. Simultaneously, the exchange will provide BFX tokens entitling account owners to recover the deducted amount in the future. One of possible reimbursement options suggests a transfer of a part of shares of BVI, the company that owns and manages Bitfinex.

“We are actively discussing various strategic options with numerous potential investors as part of our strategy to fully compensate our customers. Such discussions, however, are in early stages and will likely take time to play out,” the exchange’s statement reads.

Notably, Bitfinex did not legally justify the move; however, considering the involved amounts and mixed response in the community, the exchange’s administration may think about having one in case of litigation or regulatory issues, which seems quite likely.

Unexpectedly, traders have added some $20 to bitcoin price in the light of those news:

Bitcoin price data was taken from Coinmarketcap.com