Bitfinex CTO dismisses claims of fake database breach

Bitfinex’s chief technology officer, Paolo Ardoino, has dismissed claims made by hacking group Fsociety that it hacked the cryptocurrency exchange’s database and leaked customer emails and passwords. Ardoino stated that the claims “seem fake” and that if the hackers had real information, they would have made a ransom demand through the bug bounty program or customer support channels. He also clarified that out of the leaked records, only 5,000 matched with Bitfinex users, suggesting that the data may have been gathered from other crypto data breaches. Ardoino assured users that no breach has been detected and that their funds are safe. This is not the first time Bitfinex has faced scrutiny over data breach concerns, as it experienced minor incidents in the past. In 2016, Bitfinex suffered a major security breach resulting in the loss of around $70 million worth of Bitcoin.