Wednesday, August 3rd, 2016

Hackers steal bitcoins worth $65 million from Bitfinex exchange

Narada Desk | August 3, 2016 11:01 pm Print
Hackers managed to flee with 119,756 bitcoins worth $65 million today from Bitfinex, one of the largest bitcoin exchanges in the world.
Bitcoins hacked in online by hackers.

In one of the major online frauds of recent times, hackers made way with bitcoins that worth about $65 million today.

The hackers managed to flee with 119,756 bitcoins, revealed Zane Tackett, director of community and product development, Bitfinex, one of the largest exchanges in the world trading bit coins.

The estimated price of the stolen coins is around $65 million, added the officials in a statement to media.
The transaction made the Bitfinex, which came under the fraud, to halt all transactions and all online deals today.

It has led to a panic reaction in the bitcoin market, resulting in decrease in prices of the precious Bitcoin metal, said sources to CNN Money after the incident.

“We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen,” the company was quoted as saying to CNN.

According to the Hong Kong exchange, they have reported the heist to the enforcement wing of the law department.
However, officials are yet to reveal how the hacking had happened and who were behind it.

According to Tackett, Bitfinex is looking into the issue and launched a probe headed by experts to find out the hackers.

It is also planning to help the users access online accounts to know if their accounts were hit. In the wake of the incident, price of Bitcoin fell by 20% in the market, said industry sources.

Bitfinex is considered one of the largest Bitcoin exchanges and had traded biggest volume of dollar-denominated bit coin deals in last one month, added sources.

In 2014, one of the leading Bitcoin exchanges of that time, Mt.Gox came under attack,leading to the withdrawal of money from customers by the exchange. It initially blamed it on technical issues and hackers. However, the exchange later had to file for bankruptcy, after the attack.