Bitfinex, second largest bitcoin exchange hacked. 75 million stolen

[RagnarokDel]

Quote

Today we discovered a security breach that requires us to halt all trading on Bitfinex, as well as halt all digital token deposits to and withdrawals from Bitfinex.

We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen. We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up.

The theft is being reported to — and we are co-operating with — law enforcement.

http://thenextweb.com/insider/2016/08/03/bitcoin-bitfinex-75-million-stolen/#gref

 

Bitfinex doesnt use cold storage(offline wallet) instead, each user has their own multi-sig wallet) which means users are responsible of securing their own bitcoin wallet. While they're have not yet told us what happened, I wouldnt be surprised if most of those compromised users were linked to a password dump that happened not too long ago and were reusing the same password without 2-step verification. The price of bitcoins went from $630 USD to $489 USD immediately after the news broke out probably from panic sellers or the thieves themselves dumping on other platforms. It's back up to $534 USD atm and still rising.

[vanished]

Interesting... does anyone happen to have information on if "normal" currencies typically take a big hit if there is a major bank heist?

[Coaxialgamer]

Good thing i don't use bitfinex,  but man,  that sucks... 

[RagnarokDel]

2 minutes ago, Ryan_Vickers said:

Interesting... does anyone happen to have information on if "normal" currencies typically take a big hit if there is a major bank heist?

When the stocks crash it affects currencies in different ways but it's not possible to make a heist as proportionally important as this was with a country's currency. 75 millions is a really large sum when compared to Bitcoin's total value before the heist at around 10 billions. The NYSE is evaluated at something like 19 trillions with a daily trading of 169 billions

[The Benjamins]

the fact that BTC has had worse happen and that the price drop is already rebounding I bet the price will be back to were it was in a week or so.

 

 

[RagnarokDel]

14 minutes ago, The Benjamins said:

the fact that BTC has had worse happen and that the price drop is already rebounding I bet the price will be back to were it was in a week or so.

 

 

still pretty big heist

[M4st4M1nd]

I doubt it has anything to do with password dumps. There's no way they could steal this much in one swoop with a password dump from another source. I think its more likely there was more going on on their servers that didn't 100% secure their users. This is why I always keep my wallet close to home, stored offline.

[Fetzie]

11 hours ago, Ryan_Vickers said:

Interesting... does anyone happen to have information on if "normal" currencies typically take a big hit if there is a major bank heist?

Banks don't usually disclose when they've been compromised, or how much was stolen.

 

The amount of money that you can steal from a bank is also unlikely to register against the amount of money in circulation, unlike with these bitcoin exchanges which have large amounts of the currency available to be stolen.

[Zeeee]

Fck, some dude just got 75 million dollars sitting in his basement thats uhm amazing? Yet "not cool" lol.