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RE: Bitfinex is lying about the "hack" and I can tell you exactly what likely happened
Great article mate.
Greed strikes again. They were issuing shorts that they did not have backing for. I am currently testing out Magnr because they lend BTC to traders based on deposits made by savers. This is how I earn interest on my deposited Bitcoin while at the same time having the confidence that any BTC Magnr lends is actually backed by real BTC they have on deposit.
@marketingmonk I would be extremely careful with magnr they use the same wallet service "bitgo" as BFX, plus they were keeping customer funds at BFX. I haven't been able to withdraw from magnr in the past even small amounts like 1 BTC sometimes for up to 7 days.