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Cryptocurrency exchange BitFinex has been the target of a major cyber attack by the notorious hacker group FSOCIETY. However, it has been a week since the panic erupted among users, and it turns out that the threat has been greatly exaggerated. BitFinex Chief Technology Officer Paolo Ardoino provided an important clarification on the situation.
FSOCIETY hackers spread panic
On April 25th, the famous hacker group FSOCIETY, named after the Mr. Robot series, declared on the dark web that it had compromised over 400,000 BitFinex accounts and exposed 2.5 TB of user data. They threatened to release this sensitive data, including KYC (Know Your Customer) information, if BitFinex did not respond to his demands within 7 days.
This statement caused panic among BitFinex users. Cybersecurity experts say they can verify the authenticity of a breach by testing disclosed passwords, leading to a flood of two-factor authentication (2FA) notifications and leaving many users with urgent information about their credentials. urged change.
BitFinex questions hacking
In the midst of the storm, BitFinex CTO and Tether CEO Paolo Ardoino stepped up to calm the situation. He assures that after a thorough analysis, no compromises were detected in the BitFinex system.
According to him, the files distributed by FSOCIETY contained 22,500 email and password combinations, only 5,000 of which were associated with BitFinex users. The platform also points out that it does not store passwords in clear text.
Ardoino suggests that the data actually came from other leaks, such as the one from CoinMarketCap. Shinoji Research confirmed that many of the accounts in the file exist in the databases of sites such as his HaveIBeenPwned, which lists compromised accounts.
The CTO also emphasized that the hackers never demanded a ransom from BitFinex. Rather, we believe this attack is an attempt by his FSOCIETY to promote its ransomware tools. “If they really hacked BitFinex, why would they sell the product for $299?' he wonders.
In summary, this episode brought back the trauma of the 2016 BitFinex hack in which 119,756 Bitcoins were stolen, but this time it appears the platform was not compromised. However, this is a reminder of the importance of remaining vigilant and following the platform's official communications in case an incident is envisaged. Cryptocurrency hacking decreased by 67% overall in April 2024, but the threat still persists.
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Passionate about Bitcoin, explorer of blockchain and cryptography, and a challenger at the forefront of communication. It guarantees a free life and free finances, guarantees the safety of Bitcoin, and allows you to maintain a safe life.
Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
