Bitcoin hack explained (2016) - FAQ
Frequently asked questions about this film.
What is Bitcoin hack explained about?
Bitcoin hack explained is a news segment. The Hong Kong-based Bitfinex exchange reveals it has fallen victim to a hacking attack, resulting in the theft of nearly 120,000 bitcoins from customer funds. This incident follows a significant drop in Bitcoin's price, which fell from approximately $650 to $600, and subsequently dropped another 20% after the announcement. The stolen bitcoins account for about 0.8% of the total bitcoins in circulation. Just a month prior, Bitfinex settled charges with the US Commodity Futures Trading Commission for illegally operating off-exchange commodity transactions and failing to properly segregate customer funds. As part of the settlement, Bitfinex agreed to modify its business model regarding customer balances and pay a civil penalty of $75,000. This situation highlights the ongoing issues within the Bitcoin financial system, which, despite claims of revolutionizing finance, continues to resemble traditional financial systems with less regulatory oversight. The hacking incident raises questions about the security of Bitfinex's multi-signature system designed to protect customer funds.
When was Bitcoin hack explained released?
Bitcoin hack explained was released in 2016.
How long is Bitcoin hack explained?
Bitcoin hack explained has a runtime of 2 minutes.
Where can I watch Bitcoin hack explained?
You can watch Bitcoin hack explained on iWonder.
What genre is Bitcoin hack explained?
Bitcoin hack explained is classified as Business, Technology.
What topics does Bitcoin hack explained cover?
Bitcoin hack explained explores topics including crypto-economy, financial-markets.
Is Bitcoin hack explained available for free?
Bitcoin hack explained is available to stream on iWonder. Check the film page for current availability and any subscription requirements.
Can I watch Bitcoin hack explained with subtitles?
Subtitles may be available for Bitcoin hack explained on iWonder. Look for the CC (closed captions) button in the video player when available.