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
Tesla Stock Anticipated to Surge Following Grok AI Launch

Tesla stock is expected to rise following the launch of the Grok AI Assistant, which introduces new features for users.

Tesla Launches Grok AI Assistant in Europe, Boosting Stock Potential

Tesla has launched its Grok AI Assistant in the UK and European markets, enhancing its vehicle software capabilities.

China Boosts Oil Imports from Russia as India Shifts Focus

China has significantly increased its oil imports from Russia after India ceased procurement under a US trade deal.

Strategy's Bitcoin Accumulation Continues Despite Market Fluctuations

Strategy has been consistently adding to its Bitcoin holdings for 12 weeks, despite market fluctuations.

Fraudulent Letters Target Crypto Hardware Wallet Owners

Crypto hardware wallet users are receiving fake letters impersonating Trezor and Ledger, designed to steal digital assets.

Claver Defends His XRP Predictions Amid Criticism

Jake Claver defends his strong beliefs about XRP's future despite criticism regarding his previous predictions.

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