Bitfinex is a cryptocurrency platform founded in 2012 and is owned and operated by iFinex Inc. in 2015, the exchange suffered a hack resulting in the loss of about $400,000. then, in 2016, the exchange was targeted again. this time, however, around $73 million more was stolen from its customers’ accounts. The exchange has also been found to manipulate the price of Bitcoin, which was responsible for about half of the price increase for BTC in late 2017. Bitfinex charges makers 0-0.1% trading fees and takers 0.1%-0.2%. Deposit fees for a wire transfer are 0.1%. fees charged for depositing cryptocurrencies varies. Additionally, withdrawing through wire transfer incurs a 0.1% fee.
The exchange is closely associated with Tether as they both share common shareholders and management. Critics have raised questions regarding this relationship. Bitfinex is available to traders from almost anywhere in the world, including the US, Europe and Asia. Bitfinex’ed is a Twitter account that exposed the Bitfinex/Tether scam that saw the exchange publish trading volume data that was misleadingly inflated by reporting on a Tether/US dollar trading pair that never existed.