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
XRP Trading Volume Reaches $386 Billion Amid Market Fluctuations

XRP's trading volume has surged to $386 billion in a 24-hour period, indicating active market participation and potential buy pressure.

XRP Wallets Surpass 8 Million Despite Price Decline

The number of wallets holding XRP has exceeded 8 million, indicating strong retail participation despite a significant drop in the token's price.

Solana Price May Rally in April After Prolonged Decline

Solana price is expected to rally in April after a prolonged decline, potentially reaching above 100 again.

Final Text on Stablecoin Yield Compromise Delayed

The release of the final text on the stablecoin yield compromise has been delayed due to concerns over the markup session.

Stablecoin Yield Dispute Approaches Resolution

The stablecoin yield dispute, a key issue delaying the crypto market structure bill, is nearing resolution after recent meetings.

Strategy Resumes Bitcoin Acquisitions with $329.9 Million Purchase

Strategy has resumed its buying spree after a two-week gap, acquiring 4,871 BTC for $329.9 million.

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