TechFlow reported on October 11 that, according to Bloomberg, iFinex, the Hong Kong-based owner of cryptocurrency exchange Bitfinex, has proposed buying back $150 million worth of shares to strengthen its control over the company. A document obtained by Bloomberg shows that iFinex contacted shareholders last month, offering to repurchase 15 million shares at $10 per share—approximately 9% of iFinex's outstanding capital. In a statement cited by Bloomberg, iFinex said, "The buyback is a result of the company’s strong performance over the past few years." Bitfinex suffered a hack in 2016 that resulted in the loss of $71 million worth of bitcoin. In August this year, a couple from New York admitted to carrying out the hack on Bitfinex.
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