Bitfinex Reimburses First Bitcoin Exchange Hack Victims

Bitfinex has reimbursed its first wave of customers.
Announced 1st September, the Hong Kong bitcoin exchange revealed it had purchased more than 1% of the blockchain debt tokens it issued to users in August as a way to pay them back for losses it incurred in a debilitating hack.
While a small step to recovery, analysts were largely positive about the move due in large part to the exchange’s decision to purchase the tokens at an above-market value of $1 each, roughly double the market value when the redemption took place.

This post was published at Coin Desk on September 2, 2016.