Bittrex holds delisting BTG because of the refusal to pay compensation after breaking

Bittrex holds delisting BTG because of the refusal to pay compensation after breaking

The American stock exchange Bittrex next week removes trading pairs with BTG.

According to the official statement, the team Bitcoin Gold (BTG) has decided not to pursue the refinancing of cryptocurrency exchanges Bittrex, to repair the damage after the may cyber attack.This decision will lead to the delisting from trading BTG platform the US next week.

In may, Bitcoin Gold experienced the so-called attack 51%, in which users have lost $ 18 million, stolen from several exchanges. Bittrex was one of the main victims of hacking. The exchange does not leave the responsibility of and paid customers of the funds. As a result, American trading platform demanded the Bitcoin Gold 12 372 (about 265,000 U.S. dollars) in compensation, but later reduced the amount to about 6 000 BTG. Team BTG refused to pay because it is a non-profit organization (Endowment), and instead offered a loan Bittrex Bittrex, which was rejected by the exchange.

“In light of the potential impact on the BTG community, our Board carefully considered their requirements, but came to the conclusion that we are not able to pay funds from the Fund for damages to a private company caused to her as a result of their own failures of security”

BTG — the result of hard forks of Bitcoin in October 2017, the purpose of which was to allow ordinary miners create coins using their computers and thus stop the process of monopolization of mining by several major players, which is typical for Bitcoin. In June, BTG introduced a new algorithm proof of performance of work (PoW) to stop the double attack and to prevent ASIC miners to 51% control of mining-pool.

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