Announcements

Industry Statement Regarding Hardfork Event March 17, 2017

Bitfinex is a signatory to the following statement regarding the potential for a Bitcoin Unlimited hardfork to activate on the network. We felt it was necessary to participate in an exchange industry discussion and to communicate our operational intentions regarding a potentially destabilizing hardfork event. We have an obligation to our customers to provide a clear and consistent plan to minimize potential confusion surrounding such an event.

As always, we thank you for choosing Bitfinex during these volatile and uncertain times.

Redemption of 5.00% of BFX Tokens March 06, 2017

We are pleased to announce the redemption of 5.00% of outstanding BFX tokens. This redemption was applied pro rata to all wallet balances and margin positions, both long and short, on March 6, 2017, at 19:15:00 UTC. The amount of the redemption is based on February’s strong operating results as well as a small reduction in our contingent liability reserves.

After this redemption and February’s equity conversions, 24,539,683 BFX tokens remain issued and outstanding.

As we are rapidly approaching our goal of retiring all outstanding BFX tokens at full face value of $1, we are making an important change to future equity conversions for both direct conversions and through special purpose vehicles (SPVs). After March 31, 2017, BFX tokens will no longer be convertible into iFinex shares at a 1:1 conversion ratio. Starting April 1, 2017, the new conversion ratio will be 0.8 iFinex shares for 1 BFX token.

We retain and reserve the right to discontinue BFX token conversions at any time.

Dash Now Available for Trading March 03, 2017

Due to increased demand from customers and a maturity of the technology, Bitfinex is happy to announce we are adding Dash to our trading platform. The two new trading pairs - DSHUSD and DSHBTC - will open for exchange trading today, March 3rd, 2017.

Margin trading for Dash pairs will be enabled in the coming days.

Security Notice and Reminder February 24, 2017

On February 23rd, 2017, one of our service providers, CloudFlare, reported a serious security bug in their software. The bug caused approximately 1 in every 3,300,000 HTTP requests to leak sensitive data.

CloudFlare has fixed the bug in their software and reported that no Bitfinex data was present in the leaked data caches.

However, it is never a bad time to review your security processes and strengthen your passwords. The most important step you can take to secure your account is to enable two-factor authentication. Two-factor authentication (2FA) uses your phone or another device to add an extra layer of security for things like logging in and withdrawing funds.

Also please note that CloudFlare is a service provider for many other platforms and Bitcoin companies. Please take a few moments to check your other accounts and enable two-factor authentication on any that support this feature. You can update your Bitfinex password from the Account page and enable 2FA from the Security page.

If you have any questions, concerns, or want guidance on account security, please contact [email protected] and we will be happy to assist you.

Bank Holidays February 23, 2017

Because of Memorial Day in Taiwan the banks will be closed on Monday 27 February and Tuesday 28 February.

During this period there will be no wire deposits and withdrawals processed.

On Wednesday 1 March the banks open again.

API changes for DDoS protection February 22, 2017

On February 21st and 22nd Bitfinex was the target of a distributed denial-of-service (DDoS) attack that disrupted service for some users.

Prompt attention by the team limited the disruption to approximately 20 minutes. However, this incident highlights the importance of making further improvements to platform robustness against bad actors.

To improve defenses against such an attack, new request rate-limiting will be enabled for the Bitfinex REST APIs effective immediately.

If an IP address exceeds 90 requests per minute to the REST APIs, the requesting IP address will be blocked for 10-60 seconds and the JSON response {"error": "ERR_RATE_LIMIT"} will be returned. Please note the exact logic and handling for such DDoS defenses may change over time to further improve reliability.

For users who need high-frequency connections, please switch to the WebSockets APIs.

Redemption of 4.60% of BFX Tokens February 03, 2017

We are pleased to announce the redemption of 4.60% of outstanding BFX tokens. This redemption was applied pro rata to all wallet balances and margin positions, both long and short, on February 3, 2017, at 21:00:00 UTC. The amount of the redemption is based on January's operating results, which were unusally strong, ranking as our second best month ever. We are deeply grateful to our loyal customers and shareholders for helping us achieve this result.

After this redemption and January's equity conversions, there are now 28,784,623 BFX tokens outstanding.

We continue to press forward on all fronts to expeditiously retire BFX tokens through a variety of initiatives including equity conversion with qualified token holders, raising new capital through equity financing, reinvesting operating profits, and prudent reductions in contingent liability reserves. We look forward to sharing further developments with you in due course.

Chinese New Year Holidays January 24, 2017

Because of the Chinese New Year festivities in Taiwan our banks will be closed from Friday 27 January to Wednesday 1 February.

During this period there will be no wire deposits and withdrawals processed. On Thursday 2 February the banks open again.

Best regards

The Bitfinex Team

Redemption of 2.0% of Outstanding BFX Tokens January 10, 2017

We are pleased to announce the redemption of 2.00% of outstanding BFX tokens. This redemption was applied pro rata to all wallet balances on January 10, 2017, at 23:30:00 UTC. The redemption does not apply to margin long or short positions—only on settled wallet balances. The amount of the redemption is based on a combination of December’s operating results and a reduction in our contingent liability reserves.

After this redemption, there are now 35,712,790 BFX tokens outstanding.

For redemptions in the future, we will be changing our methodology for determining eligible balances. Specifically, in addition to settled wallet balances being subject to redemption, margin positions will also be included with margin long positions receiving the redemptions and shorts paying the redemptions. Redemptions associated with margin positions will be settled to the balances in the margin wallet and will not affect the amount or the base price of the margin position itself.

Since redemptions debit BFX and credit USD, it is possible that a negative BFX balance might be created (while USD is credited) in the margin wallet during subsequent redemptions if there is no BFX collateral. If this happens, the system will handle the negative balance as usual—automatically settling them at the market price. Please note that shorts will see a net reduction in the margin wallet balance, the effect being similar to the situation of being short a stock that pays a dividend.

We continue to press forward on all fronts to expeditiously retire BFX tokens through a variety of initiatives including equity conversion with qualified token holders, raising new capital through equity financing, reinvesting operating profits, and prudent reductions in contingent liability reserves. We look forward to sharing further developments with you in due course.

If you have any questions about redemptions and how we will be handling margin positions in upcoming redemptions, please contact [email protected]

Content Delivery Network Migration January 10, 2017

As part of our ongoing effort to improve global availability and platform robustness, we will be migrating to a new content delivery network (CDN) during the next two weeks. 

Although we do not expect web users to be disrupted during the migration, some API users may notice momentary connection issues at the moments when servers are undergoing a migration. If this happens, please know that this is expected during migration, and simply try reconnecting a few seconds later to pick up the new IP addresses.

During this migration, if there are any important notices or updates they will be posted to statuspage.bitfinex.com and twitter.com/bitfinex.

Users who have firewall rules based on our current IP ranges will need to take note of the new IP ranges, detailed below. We recommend to modify your firewall rules to allow both the existing and new IP ranges, and once the migration is complete, you can remove the old ranges.

Our current IP ranges are:

  • 199.83.128.0/21
  • 198.143.32.0/19
  • 149.126.72.0/21
  • 103.28.248.0/22
  • 185.11.124.0/22
  • 192.230.64.0/18
  • 45.64.64.0/22
  • 107.154.0.0/16

On the new CDN the IP ranges will be:

  • 103.21.244.0/22
  • 103.22.200.0/22
  • 103.31.4.0/22
  • 104.16.0.0/12
  • 108.162.192.0/18
  • 131.0.72.0/22
  • 141.101.64.0/18
  • 162.158.0.0/15
  • 172.64.0.0/13
  • 173.245.48.0/20
  • 188.114.96.0/20
  • 190.93.240.0/20
  • 197.234.240.0/22
  • 198.41.128.0/17
  • 199.27.128.0/21

If you have any questions about how this may affect your situation, please reach out to [email protected] and we will happily help you.