Yeah it's 120k btc not 12k btc, i think if 12k btc were stolen it could've been recovered. it would've given all users a warning to never trade on bitfinex.

Unfortunately it's highly unlikely that the Bitfinex users will receive back any significant amount - unless someone finds 100k+ BTC under his sofa... The most realistic scenario for Bitfinex is bankruptcy. I doubt that it will be possible to find a buyer that will reimburse the losses. The amount is too high and the Bitfinex trading system has been now been proven to have security flaws. Nobody is going to pay $60m for that.

Even if the CFTC regulations prohibited cold storage that's no excuse for the security practice at Bitfinex. They could have used a proper multisig setup - apparently they did use multisig indeed, but they did not effectively oversee the safekeeping of the keys.

Now most likely another wave of media FUD will start, portraying Bitcoin as unsafe and a hacker's paradise. However I doubt the consequences will be as bad as after the Mt.Gox disaster, since the number of informed people is a bit higher now and the losses are less extreme. Hopefully all other exchanges will improve their security measures as a result.

ya.ya.yo!

someone with many account on many exchange can easily dump a shit load of coin, no matter what law there are there, not to mention that it is easy to sell off-exchange as well

also he does not need to dump 120k to cause a panic dump, just 10k the remaining panic will be caused by the news itself

Yet another serious argument to introduce global regulation and standardized laws & procedures for every bitcoin exchange.
Services like these should be regulated and at least security-wise with some general security precautions.
Comment of Bitfinex's staff when they claimed they don't use cold wallets is great example here.

This rediculious news that i seen right now its a large amount got by hackers but the price still staying at 500 value why they are not sell those all?
Or they are still holding some of them and sell it when the price of bitcoin will be increase..

Price is rebounding so damage done maybe not as bad as everybody think it was.
Give it time for all the news to come out before making any harsh judgments on the current price situation.

They are based in Hong Kong so they could get in some trouble if this an inside job from them.

I don't believe any hacker could easily take all the money and run away simple like that, it should have been some sort of inside job.

I wonder if I can have it at least something in such a way to obtain. Really there are gullible people who catch his words.