Note: I'm not a lawyer, I'm just a trader.
Bitfinex has announced a 36% haircut to customer deposits after being hacked for 120,000 BTC. Zane, Director of Communication at Finex, has said in recent interview/Q&A that they plan to be back online approximately by Monday and will release in three stages:
(As an aside, I think that trading should be enabled the same time as withdrawals, so people can shift around their assets into the desired one, and withdraw how they choose.)
Some of you may be thinking that you are entitled to all your funds, because your BTC were not hacked or because you were holding ETH or USD or ETC or LTC. Well, that doesn't really matter, because the reality is that Bitfinex lost $ 70 million, and that hole is a fat set of liabilities to customers that is supposed to be redeemable on demand, but that they can't make good on immediately. You had funds with them, which in Bitfinex's custody makes them Bitfinex assets (in accounting terms) and corresponding liabilities to you customers. This means in a legal resolution, you will just become a creditor among many other creditors, and you won't be first in line to be paid in the court process.
This means that if you chase them into bankruptcy then they wont be able to pay you in full anyway, and to make matters worse, it adds the extra cost of going through years of legal procedures and paying tons of paper-pushers along the way. You will be lucky to get even 50% after all that headache, not to mention the lost value of what you could have made from investing and trading with that money over the 3-5 year court process.
The 36% haircut is tough to get hit with, but there's no better outcome than this to happen other than Finex getting outside funding to make the haircut smaller (or non existent). Their token which is filling the hole might help soften the blow even more, and might turn out even better if it is tradeable and jumps in value. Either way, going through the long drawn out painful administration process a la MtGox is unnecessary, and this solution Bitfinex has come up with will make us to avoid that whole mess.
Those of you who think taking legal action will get you 100% of your money, you're wrong. Any forcing of them to make good on large sums will push them through that costly process where you just get a slow-motion haircut. The logical thing for you to do is let them do the 36% haircut, take your 64% of funds, then sue afterward for the 36%. Injunctions or any moves to force them into the process before implementing the haircut+token plan will not get more than 64% of your funds back. It's irrational in all victims' cases to reject this scheme given the circumstances.
TL;DR 36% haircut + Token is the faster, cheaper way of doing what would happen anyway in a "legal" bankruptcy process.