Bitfinex launches BCH margin trading

Bitfinex exchange launches Bitcoin Cash margin trading 
04 August 2017   1832

Distributed database that is used to maintain a continuously growing list of records, called blocks

One of the leading cryptocurrency exchanges, Bitfinex, announced the launch of margin trading in Bitcoin Cash (BCH, BCC).

Thus, the Hong Kong Exchange becomes the first to offer such an option to the traders.

The start of Bitcoin Cash margin trading occurred the day after Bitfinex added support for new tokens by launching new trading pairs: BCH/USD, BCH/BTC and BCH/ETH.

Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

When the BCH tokens were distributed, instead of the ratio of 1: 1 there was a 0.8539 coefficient. It means that if a Bitfinex user has 1 BTC, then 0.8539 BCH is charged to him. As explained by the representatives of Bitfinex, this calculation methodology takes into account the aggregate of open long and short marginal positions on the exchange. 

It is also worth mentioning that the customers report on Twitter on the fact that the Bitcoin Cash deposits were inactive:

Bitcoin Cash margin trading on Bitfinex Screenshot from Dutch_Hammer on Twitter

The users complained that the Birfinex support hadn't replied for about 6 hours. 

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.