Cryptocurrencies

Bitfinex CTO refutes latest claims of user data breach, reassures community of fund safety

Bitfinex has recently garnered attention due to claims made by a ransomware group named “FSOCIETY” stating they have accessed 2.5TB of data from the exchange and personal details of 400,000 users. Bitfinex CTO Paolo Ardoino has responded to these allegations, stating that the claims of a database hack are likely “fake” and ensuring users that their funds are secure. Ardoino discovered discrepancies in the data and user mismatches in the hacker’s posts. The hackers shared sample data containing 22,500 records of emails and passwords, but Bitfinex does not store plain-text passwords or 2FA secrets in clear text, according to Paolo. Of the leaked data, only 5,000 emails matched Bitfinex users, which could be due to users reusing the same credentials across multiple sites. The lack of direct communication from the hackers is unusual for ransomware attacks, as typically there is some form of ransom demand or contact. Bitfinex conducted a thorough analysis of its systems and found no evidence of a breach. Ardoino also suggested that the motive behind the exaggerated breach claims is to sell a hacking tool to other scammers, promoting attacks on high-profile entities like Bitfinex. He questioned the need for the hackers to sell a hacking tool if they had genuinely accessed valuable data from Bitfinex.

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