Cryptocurrencies Exchange Bitfinex Reports Hack, Over $60 Million in Bitcoin Reported Stolen

A Bitfinex spokesperson said 119,756 bitcoin were stolen in the hack that took place Tuesday.

cyber-crime-hacker-talk-talk
  • LinkedIn  
  • Save this article
  • Print this page  

The exchange posted a note on its website at 2:06 pm EST on Tuesday announcing a theft had been reported, and the firm was cooperating with law enforcement. Zane Tackett, Bitfinex's director of community and product development, posted on Reddit that 119,756 bitcoin were stolen in the hack, which is worth roughly $67 million as of Wednesday early afternoon. Only bitcoin was stolen.

"As it stands, we are continuing to investigate the hack and understand exactly how relevant systems were compromised. We are also cooperating with authorities and the top blockchain analytic companies in the space to track the stolen bitcoins. In the meantime, we have been working on getting the platform up and running on a secure instance so that users can log in and see if their accounts have been affected as well as the state of their positions and orders. We hope to have an update with more substance later today UTC time," Tackett said in a post on Reddit.

Bitfinex is the largest exchange in terms of USD-denominated transactions over the past 30 days, according to bitcoincharts.com. Prior to the breach, the exchange had over $400 million in volume, according to the site, which tracks the bitcoin markets.

According to a tweet from Tuur Demeester, editor in chief at cryptocurrencies research firm Adamant Research, this is the third largest heist in the history of bitcoin, behind Silk Road (171,955 BTC) and Mt. Gox (850,000 BTC).

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Copyright Infopro Digital Limited. All rights reserved.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@waterstechnology.com

Copyright Infopro Digital Limited. All rights reserved.

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@waterstechnology.com

More on Trading Tech

If M&A picks up, who’s on the auction block?

Waters Wrap: With projections that mergers and acquisitions are geared to pick back up in 2025, Anthony reads the tea leaves of 25 of this year’s deals to predict which vendors might be most valuable.

Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T

Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.

Enough with the ‘Bloomberg Killers’ already

Waters Wrap: Anthony interviews LSEG’s Dean Berry about the Workspace platform, and provides his own thoughts on how that platform and the Terminal have been portrayed over the last few months.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here