Bitcoin News Thebittimes.Com

In 2016, those who fell victim to the Bitfinex hack were provided iFinex share s as compensation, since the cryptocurrency exchange lacked sufficient funds to fully reimburse its users. iFinex’s parent company, iFinex, has put forward a proposal to repurchase $150 million worth of the company’s shares from those individuals who had been granted these shares as compensation for the $71 million Bitfinex cryptocurrency exchange hack that transpired in 2016, as reported by Bloomberg. The intention to repurchase these shares was disclosed by iFinex in a letter addressed to shareholders, dated September 22. The digital asset company has offered a purchase price of $10 per share for the 15 million shares that were distributed in response to the Bitfinex hack in 2016. At the time of the Bitfinex hack, the exchange lost nearly 36% of its total user balances, all of which were in Bitcoin. However, Bitfinex was incapable of providing users with full compensation due to a shortage ...

In a public service announcement published on Monday, the US Federal Bureau of Investigation ( FBI ) warned citizens of fake job ads that lure people to Southeast Asia, where they’re held against their will and forced to commit international crypto scams on unsuspecting victims . The fake jobs could be anything from tech support, call centre customer service, and beauty salon technicians, the FBI stated. In order to lure victims, lucrative benefits, salaries, and accommodation are offered. But once they land in the country wherein they believe they’ll be working, victims have their passports confiscated and they’re threatened with violence unless they commit crypto scams online. What’s more, they’re told they must pay off mounting debt — travel fees, room and board, and on occasion, their debt gets worse when they’re sold to other criminal groups. These types of scams often target Asia-based victims, the FBI noted. Indeed, reports of crypto scam rings using enslaved individuals r...