• Bitfinex’s CTO Paolo Ardoino has dismissed allegations of a database breach by hacking group Fsociety as “fake”.
• The misinformation began circulating on social media, claiming that Bitfinex’s data, including personal details of 400,000 users, had been hacked.
• Ardoino clarified that Bitfinex does not store plaintext passwords or 2FA secrets in clear text, further diminishing the credibility of the alleged breach.

Bitfinex CTO Paolo Ardoino dismisses claims of database breach by hacking group Fsociety as “fake”, assuring users that their data remains secure.

Bitfinex Clarifies Misinformation Surrounding Alleged Data Breach

Claims of a large-scale data breach at Bitfinex began circulating on social media, triggered by a tweet from Alice of Shinoji Research. The tweet, which has since been deleted, claimed that Bitfinex’s data, comprising 2.5 Terabytes of information and personal details of 400,000 users, had been hacked. Alice later corrected the record, acknowledging their premature assertion.

Bitfinex’s Response to the Allegations

Ardoino clarified that Bitfinex does not store plaintext passwords or 2FA secrets in clear text, further diminishing the credibility of the alleged breach. He suggested that the hackers likely gathered data from various other crypto-related data breaches, exploiting the common practice of users utilizing the same login credentials across multiple platforms. Ardoino assured users that Bitfinex’s user database was not breached and that all user funds remain secure.

Bitfinex Refutes Claims of Data Breach by Fsociety

Fsociety, a hacking group inspired by the fictional group from the television series “Mr. Robot,” claimed on its dark web homepage that it had successfully breached several entities, including Bitfinex. However, none of the alleged victims, including Bitfinex, have acknowledged experiencing a significant data breach or engaging in ransom payment. Ardoino highlighted that Bitfinex never received direct communication from the hacking group and questioned the legitimacy of Fsociety’s assertions.

Conclusion

Despite the allegations, Ardoino assured users that Bitfinex would diligently investigate the situation. As of now, no breach has been detected, and all user funds remain secure. This incident serves as a reminder of the importance of maintaining strong, unique passwords and utilizing two-factor authentication to protect personal data.