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
National Security Concerns Raised in WLFI Investigation

The WLFI investigation led by Congressman Ro Khanna explores national security concerns linked to financial transactions and US controls on AI semiconductor exports.

WLFI Investigation Examines Stablecoin's Role in UAE Investment

WLFI investigation examines stablecoin's role in UAE investment.

XRP Ledger Achieves Major Milestone with Institutional Participation

The XRP Ledger has successfully removed barriers for banks, enabling direct settlement and potentially facilitating billions in inflows.

Upcoming XRP Community Day to Focus on Utility Expansion

RippleXDev announces XRP Community Day on February 11 to discuss features enhancing XRP utility.

AI Dynamics Challenge Investment Strategies

The financial markets are facing challenges as stakeholders adapt to new AI-driven dynamics, raising questions about regulatory implications.

Tech Disruption Compared to Dot-Com Bubble

Market analysts are drawing parallels between the current AI-driven tech disruption and the historical dot-com bubble, suggesting potential recovery patterns.

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