Bitfinex deceived its customers and run with millions
1/16/2018 4:50:39 PM - Crypto

 In March of last year Bitfinex introduced an innovative new token class called a Chain Split Token (CST). CSTs allow market participants to speculate on the future outcome of a potential cryptocurrency protocol change, following that announcement bitfinex  launched BT2 tokens which will represent the segwit2x after the fork.


In January 1st 2018, most of bt2 holders woke up to a shock that there Bt2 tokens does not exist specially two days of the segwit2x fork, that took place on the 28 of Dec 2017.( reference : )

However the question that should be asked at this moment is what bitfinex will do with the remaining value of the bt2, and how would they resolve this issue with their loyal naive customers.


Legal action :

In case of a legal action bitfinex is in hot water despite the clear mention to the future of the bt2 in the term and conditions, bitfinex has no right at all to take the value of the remaining unsold tokens.

Even if the price of the bt2 token dropped to a dollar or less, bitfinex is  legal and morally bound to return that value to the customers.


Segwit2x was cancel on October 2017 , then in mid-Novemeber 2017 another team has took the lead and started with the procedure of the fork, this kind of update was not mentioned at bitfinex , and most traders had no clue about this.



For this reason most traders consider this as the greatest embezzlement that ever happened on any crypto exchange.