The CEO of Tether, Paolo Ardoino, recently challenged rumors of a possible database hack on Bitfinex, asserting that they were likely unfounded. Ardoino addressed the issue through a statement on the matter, indicating that claims of hackers uploading massive amounts of data containing email addresses and passwords were not genuine. He clarified that sensitive information like 2FA secrets and plaintext passwords are not stored to alleviate concerns about user account security. Out of the 22,500 emails shared, only 5,000 belonged to Bitfinex customers, diminishing the potential impact of any actual breach significantly. Crucially, the individuals claiming responsibility for the breach did not communicate directly with Bitfinex, casting doubts on the legitimacy of their assertions. Ardoino pointed out the absence of ransom demands through traditional channels, such as bug bounty programs, customer support tickets, or social media platforms, further undermining the credibility of the alleged breach. Despite concerns raised by security experts, investigations indicate that the hackers compiled data from several cryptocurrency breaches. Tether has initiated a comprehensive review of its systems and found no evidence of a breach, affirming the safety of users' funds. Ultimately, Ardoino reiterated their unwavering commitment to safeguarding user assets, pledging continued vigilance to mitigate potential risks.
Refutation of Rumors Regarding Database Hack by Bitfinex CTO

by Giorgi Kostiuk
2 years ago

Other news
Ripple Seeks Australian Financial Services License

Ripple plans to secure an Australian Financial Services License to expand its payment offerings in Australia.

Changpeng Zhao's Net Worth Reaches $110 Billion, Ranking Him Among the World's Richest

Forbes estimates that Changpeng Zhao, founder of Binance, has a net worth of $110 billion, ranking him among the 20 richest individuals globally.

Oil Prices Fluctuate Following False Social Media Post

A social media post by US Energy Secretary Chris Wright led to a temporary drop in oil prices, which quickly rebounded after reports of Iranian mine deployment in the Strait of Hormuz.

Trump Issues Strong Warning to Iran Over Strait of Hormuz

President Trump escalated tensions with Iran, demanding the removal of mines in the Strait of Hormuz and warning of unprecedented military consequences if they do not comply.

Bybit Prevents $300 Million in Unauthorized Withdrawals Amid Rising Crypto Theft

Bybit has blocked over $300 million in unauthorized withdrawals, highlighting ongoing challenges in crypto theft.

Altcoin Market Shows Early Signs of Stabilization

Recent data indicates that parts of the altcoin market, particularly Total3, are beginning to stabilize despite ongoing geopolitical tensions.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter