Update: Bitcoin Price Plummets with Bitfinex Theft of 119, 756 Bitcoins

Update: Bitcoin Price Plummets with Bitfinex Theft of 119, 756 Bitcoins

Update: The theft of 119,756 bitcoins, approximately $65 million at current exchange rates, has now bot conclusively confirmed.

Bitcoin price crashed today spil bitfinex dramatically announced a “security breach” that led to the theft of an unconfirmed number of bitcoins. The thickest USD bitcoin exchange further announced a shutting down of its webstek and trading ter ominous signs reminiscent of MT Gox.

Wij are awaiting confirmation, but circulating rumors are suggesting that an incredible 125,000 bitcoins, valued at almost $100 million, may have bot hacked. The evidence provided is days demolished. Around mid-day today, there wasgoed a dramatic dip:

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Evidence Suggests 125,000 Bitcoins May Have Bot Stolen From Bitfinex

If the suggested evidence is keurig, this would be the largest theft te bitcoin’s space since MT Gox. Wij have bot incapable to confirm any detail spil wij have received no response. It is not, therefore, known how the hack may have occurred, especially on such a scale, or if the rumors and the little evidence wij have are onberispelijk, considering bitfinex’s assumed use of cold wallets. Moreover, from our understanding, they use a two of three multisig, with one key held by Bitgo. It is not, therefore, at all clear how such a staggering amount may have bot stolen.

Bitfinex has, however, bot experiencing numerous problems overheen the past few months, leading to an unexpected freezing of trading on at least two occasions, both of which caused a crash te bitcoin’s price by almost $100 ter each example. The official statement at the time wasgoed that they were some problems with their gegevens servers, and they were working hard to resolve them, but no post-mortem investigative report wasgoed published spil far spil wij are aware.

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Bitfinex wasgoed fined by CFTC $75,000 “for suggesting illegal off-exchange financed retail commodity transactions and failing to register spil a futures commission merchant,” ter early June, but Zane Tackett, Director of Community and Product Development at Bitfinex, strongly denied any connection inbetween previous outages and CFTC’s fine.

We’re likely to hear much more detail on this deeply shocking latest announcement from Bitfinex te the coming days and perhaps months, especially if the staggering amount is onberispelijk. For now, wij urge caution spil the story is evolving.

Featured photo from Shutterstock. Graph from P2SH Statistics.

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  1. I’m just appreciative that my funds are safe. losing it on an exchange would be a excellent bummer.

  2. bitfinex is one of the thickest exchanges needs to be UP

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