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While the cryptocurrency market continues to face notable developments, hacking attacks remain a persistent agenda item. According to Bitfinex’s Chief Technology Officer Paolo Ardoino, allegations that the FSOCIETY hacking group breached Bitfinex’s database and leaked 22,500 customer emails and passwords appear to be false.
Comments from a Prominent Figure
Paolo Ardoino, in a post shared on X on May 4th, stated that if the attackers had real information, they should have made a request through bug bounty, customer support notification, emails, Twitter, etc. He continued:
“We do not store plaintext passwords or 2FA secrets in plaintext.”
Ardoino disclosed that only 5,000 out of the 22,500 email and password records corresponded to Bitfinex users. He suggested that it is more likely that hackers gathered data from various other crypto data breaches:
“Unfortunately, most users use the same email and passwords across multiple sites.”
He also shared a message from a security researcher who believes that hackers claimed to have hacked Bitfinex as a way to promote a data retrieval hacking tool:
“So it’s an advertisement by creating a rumor about successful hacks of well-known companies/universities, showing how good their tools are and that others need to buy them to exploit companies and make millions of dollars.”
Notable Details About Bitfinex
Ardoino assured users that they will continue to investigate the situation, but so far no breach has been detected and all funds are secure. This is not the first time Bitfinex has faced scrutiny due to data breach concerns.
In November 2023, a customer support representative at Bitfinex was attacked, leading to a minor information security incident. This resulted in a series of phishing attacks targeting Bitfinex users, although Bitfinex reported minimal damage. Meanwhile, in 2016, Bitfinex experienced a security breach that led to the loss of 119,576 customers’ Bitcoins; at the time, this was worth approximately $70 million, now valued at $7.6 billion.
