Paolo Ardoino, the Chief Technology Officer (CTO) of Bitfinex cryptocurrency exchange, has denied rumors circulating on social media about a potential data breach at the exchange. This comes after a hacking group called FSOCIETY claimed last week that they had successfully breached Bitfinex’s security measures and obtained personal details of over 400,000 users.
In a statement on Twitter, Ardoino reassured users that Bitfinex has thoroughly analyzed its systems and found no evidence of a breach. He also noted that less than a quarter of the email addresses allegedly stolen from Bitfinex’s servers match legitimate user accounts.
“We’re performing deep analysis of our systems and no breach was found currently,” Ardoino wrote, adding that if FSOCIETY had any real information about a breach, they would have demanded a ransom through Bitfinex’s official channels, such as their bug bounty program, customer support tickets, emails, or social media accounts.
Ardoino, who is also the CEO of Tether, shared a message he received from a security researcher suggesting that FSOCIETY’s claims might be a promotional tactic to sell their ransomware tools, which they reportedly offer as a subscription service with a commission on stolen profits.
“If they truly hacked Bitfinex, do they really need to sell stuff for $299?” Ardoino questioned, casting doubt on the validity of FSOCIETY’s claims.
Bitfinex has a history of being targeted by hackers, with a notable incident in 2016 where two individuals, including crypto rapper ‘Razzlekhan,’ pleaded guilty to money laundering charges related to the hack and surrendered over 95,000 Bitcoin to the government.
While FSOCIETY also claimed to have breached Rutgers University, consulting firm SBC Global, and cryptocurrency exchange Coinmama (misspelled as “Coinmoma”), none of these organizations have publicly acknowledged a significant data breach or the payment of a ransom.
Bitfinex users are advised to be alerted and follow the exchange’s official channels for any updates regarding this matter.
