Tether CEO Denies Bitfinex Data Breach by FSociety

• Bitfinex CTO Paolo Ardoino refutes allegations of a data breach involving the cryptocurrency exchange.
• The false reports originated from a tweet by Alice of Shinoji Research, who alleged a large-scale data breach based on claims from a hacking group called FSociety.
• Ardoino reiterated that Bitfinex’s user database remained secure and that the alleged hackers posted lists of stolen emails and passwords from unrelated breaches.

Bitfinex CTO Paolo Ardoino has denied recent allegations of a data breach involving the cryptocurrency exchange, describing the claims as “fake”. The false reports originated from a tweet by Alice of Shinoji Research, who alleged a large-scale data breach based on claims from a hacking group called FSociety.

Bitfinex’s Response to Allegations

Following the rumors, Bitfinex conducted an internal review to verify the integrity of its user database. Ardoino confirmed that the review concluded the claims were fake. He stated, “As I said on Saturday, Bitfinex’s user database was not breached. We spent the weekend reviewing all internal data to avoid leaving any stone unturned. We concluded that the claim was fake, as suspected from the beginning.”

Origin of the False Reports

The false reports originated from a tweet by Alice of Shinoji Research, who alleged a large-scale data breach based on claims from a hacking group called FSociety. The tweet suggested that Bitfinex’s database, comprising 2.5 terabytes of information and personal details of 400,000 users, had been compromised. However, Alice has since retracted the allegations, acknowledging that the tweet was premature.

FSociety’s Claims and Bitfinex’s Security

FSociety claimed on its dark web page that it successfully hacked multiple targets, including Bitfinex. However, none of the organizations allegedly affected by the hacks have acknowledged a data breach or confirmed any payment of ransom. Ardoino reiterated that Bitfinex’s user database remained secure and that the alleged hackers posted lists of stolen emails and passwords from unrelated breaches.

Conclusion

Despite the allegations, Bitfinex maintains that its user database remains secure. The exchange has not received direct communication from FSociety regarding any data breach. Ardoino’s response to the allegations underscores the importance of maintaining robust security measures in the cryptocurrency industry, particularly in light of the increasing prevalence of cyber threats.