Bitfinex Suffers Data Breach, Tether CEO Says “Seems Fake”

Bitfinex, a prominent cryptocurrency exchange, is reeling from news of a major data breach. According to reports, approximately 2.5 terabytes of data containing confidential information of approximately 400,000 customers was leaked. This revelation caused widespread panic among users concerned about the safety of their accounts and assets, given previous hacks. Following these alarming developments, the CEO of Tether, the company behind the USDT stablecoin commonly used by Bitfinex, questioned the legality of the breach. He expressed skepticism, saying the situation “looks fake” based on available information.

Bitfinex data breach confirmation and response from Tether CEO

Considering the new details surrounding the data breach, Tether’s CEO provided insight into the situation. While acknowledging the existence of leaked data, he highlighted several key points that call into question the legitimacy of the leak. The CEO said the suspected hackers posted two large links containing sample data, including 22,500 records of email addresses and passwords. However, Bitfinex emphasized that it does not store cleartext passwords or his 2FA secrets in cleartext.

Furthermore, out of 22,500 emails, only 5,000 match the Bitfinex user’s credentials. The CEO also noted that there was no direct communication from the hackers, suggesting that no legitimate attempts were made to gain access to Bitfinex, although their initial post set a deadline for contact. . Despite the alarming nature of the situation, Tether’s CEO reassured users that a thorough analysis of the system has not revealed any breaches so far. He also emphasized that the company has robust security measures in place, including strict rate limits on its KYC platform to prevent large data downloads.

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Understanding the status of funds and ensuring safety

Despite widespread concerns and speculation surrounding the alleged data breach, Bitfinex continues to firmly guarantee the safety of your funds. The exchange is actively monitoring the situation and conducting a comprehensive analysis of its systems to detect potential vulnerabilities and breaches.

Bitfinex recognizes that fear, uncertainty, and doubt (FUD) is prevalent in the crypto community, but we remain transparent and committed to working diligently to address security concerns. It is working. The exchange urges users to remain vigilant and report any suspicious activity immediately. As the investigation continues and additional information comes to light, Bitfinex remains committed to keeping users informed and taking the necessary steps to protect their assets and personal information.

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