The recent Bitfinex hack has raised many unanswered questions about the platform. As the exchange utilized BitGo’s software as part of its security solution, users are also pointing fingers towards BitGo.

Bitfinex partnered with BitGo last year to provide individual multi-signature wallets for each customer, allowing traders to verify funds on the blockchain for complete transparency while retaining institutional-level security.

JP Buntinx, a freelance bitcoin writer, noted that while Bitfinex deals with multiple fiat and cryptocurrencies, only Bitcoin balances were affected by the hack. Furthermore, Buntinx said that as BitGo has to co-sign every transaction, the security of its solution becomes questionable. Similar concerns have been raised by Stan Higgins of CoinDesk.

Earlier this week, BitGo said in a tweet: “As we directly notified our customers earlier today, our investigation has found no evidence of a breach to any BitGo servers”.

The bitcoin security platform has now provided fresh update on the matter in a blog post. While BitGo said that it cannot give the answers currently, it emphasized that there were no problems in its solution.

“BitGo systems were not breached in this attack and our software functioned correctly. This may seem like an inadequate explanation, because everyone wants to know “what needs to change to avoid what happened in this case,” and we understand that”, it said.

It also said that it has worked tirelessly with Bitfinex to investigate the theft and is now focused on protecting the remainder of Bitfinex coins and all of our other customers’ coins.

“Our job is to protect your Bitcoin and continue to improve the security of the service”, it said.

At the moment, the questions remain unanswered. In the meanwhile, Bitfinex today announced that it is considering “a socialized loss scenario” among bitcoin balances and active loans to BTCUSD positions. The announcement has not been well received: