Is Bitfinex New MtGox?

November 21, 2017

Is Bitfinex New MtGox?

Bitfinex exchange's users paid attention to problems with withdrawing money, some even predicted it to meet MtGox's fate. The risk is caused by Tether and Bitfinex's cooperation, as well as concerns about the changed information, usually included in the audit.

The users claim that Bitfinex puts its customers at risk, which in the end will result in heavy losses associated with fraudulent trading.

Besides, the customers note great prices fluctuations, similar to the practice of Bitfinex's margin trading, they are also concerned that the market is moving due to major transactions. With liquidity excessing $500 million, they will be able to set the price themselves.

At the same time, CoinTelegraph claims that the concerned customers are panic-stricken and put forward risks based on emotions rather than on objective analysis, despite the fact that many stakeholders express their opinions after studying and analyzing this phenomenon carefully.

The issue is constantly discussed in the social network Twitter and, increasingly, the users call Bitfinex the next MtGox - this is how the MtGox's fall began and then it disappeared with all the users' assets amounting to millions.

It should be noted that the other day the company Tether announced the theft of 30,950,010 USDT tokens. The Bitfinex exchange also suffered because of this incident. At least its reputation did because Tether and Bitfinex have one and the same management source.

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