Bitfinex CTO Claims Database Breach Appears Fake

Bitfinex, a cryptocurrency exchange, has dismissed claims made by hacking group FSOCIETY that it hacked their database and leaked customer information. The chief technology officer of Bitfinex, Paolo Ardoino, stated that the claims seemed fake and that the hackers did not have any substantial information. Ardoino pointed out that the hackers did not make any ransom demands through the bug bounty, customer support tickets, emails, or Twitter. He also clarified that Bitfinex does not store plaintext passwords or two-factor authentication secrets in clear text. Out of the 22,500 leaked records, only 5,000 belonged to Bitfinex users. Ardoino speculated that the hackers obtained the data from other crypto data breaches, as many users tend to reuse the same email and passwords across multiple platforms.

A security researcher shared a message suggesting that the hackers were falsely claiming to have hacked Bitfinex to promote their data retrieval hacking tool. By creating buzz around successfully hacking well-known companies, the hackers advertised their tool and encouraged others to purchase it to exploit other companies. Despite the claims, Bitfinex assured its users that no breach had been detected, and their funds were safe. The exchange pledged to continue investigating the situation.

This is not the first time Bitfinex has faced concerns about data breaches. In November 2023, one of its customer support agents was hacked, resulting in phishing attacks on Bitfinex users. Bitfinex stated that little harm was done. In 2016, the exchange experienced a significant security breach that led to the loss of 119,576 customers’ Bitcoin, valued at around $70 million at the time, which is now worth $7.6 billion. Despite these past incidents, Bitfinex remains committed to ensuring the security of its platform and user accounts.

Evaleen Dreher

Evaleen Dreher

12 thoughts on “Bitfinex CTO Claims Database Breach Appears Fake

  1. Bitfinex, thank you for investigating the situation and assuring us of our funds’ safety. Your proactive approach is commendable! 👏🛡️

  2. Cheers to Bitfinex for thoroughly investigating the alleged breach! It’s reassuring to know that our funds are in capable hands.

  3. It’s clear that Bitfinex is trying to cover up their security flaws once again. Can’t trust them anymore!

  4. Bitfinex is playing with fire, they should take these claims seriously before it’s too late

  5. The fact that Bitfinex has faced data breach concerns before indicates they haven’t learned from their past mistakes. Disappointing!

  6. Bitfinex, you’ve demonstrated time and again that you prioritize our security. We’re lucky to have such a reliable exchange!

  7. I’m starting to lose faith in Bitfinex, their track record speaks for itself

  8. Thank you, Bitfinex, for being transparent about the situation. Your dedication to the safety of our funds is highly appreciated!

  9. Bitfinex needs to stop making excuses and start investing in better security measures to protect its users’ information

  10. Bitfinex needs to prioritize the security of its platform and users instead of making excuses. It’s time for a change!

  11. Thank you, Bitfinex, for keeping us informed! Your commitment to security is truly reassuring. We appreciate your transparency and diligence.

  12. I’m relieved to hear that Bitfinex users are unaffected by the alleged breach. Keep up the good work, team!

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