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Bitfinex Hacked: 120K of Customer’s Bitcoin reported stolen – Market Price Drops Nearly 20%


Bitfinex representatives confirmed 119,756 BTC (more than $60m) has been lost or stolen from the exchange.

Hong Kong based digital currency exchange Bitfinex took its trading platform offline after a reported hack that resulted in the theft of more than 60 Million USD of customer funds.

In a statement on its website, Bitfinex said yesterday it has suspended all trading, deposits and withdrawals. The company said:

“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, will be taken down and the maintenance page will be left up.”

According to the exchange, which trades several digital currencies, including Bitcoin, Litecoin and Ethereum, only its bitcoin accounts were impacted. Bitfinex may move to settle certain financed trading positions that were active when the security breach reportedly occurred.

“As we account for individualized customer losses, we may need to settle open margin positions, associated financing, and/or collateral affected by the breach,” the statement read. “Any settlements will be at the current market prices as of 18:00 UTC.”

Bitfinex says it “will look at various options to address customer losses later in the investigation”.

The exchange has been involved in a similar security incident last May, where its hot wallet – which contains bitcoin funds connected to the Internet – was targeted by unknown attackers.
Other exchange services like ShapeShift and Gatecoin, have experienced this year similar losses as a result of security breaches.

Bitfinex representative, Zane Tackett, will be posting updates on reddit (/u/zanetackett)

Bitcoin Drops Nearly 20% after Exchange Hack

スクリーンショット 2016-08-04 10.54.31

Today the price of bitcoin dropped by nearly 20% reacting to news that Bitfinex, one of the largest digital currency exchanges, had been hacked on tuesday and went offline pausing all trading and transactions to investigate the issue.

According to Coindesk, bitcoin prices fell to $560.16 by 19:30 UTC, $530 by 23:30 and $480, CoinDesk USD Bitcoin Price Index (BPI) data reveals.

This price was roughly 20% lower than the day’s opening of $607.37 and 27% below the high of $658.28 reached on Saturday, 30th July, when the digital currency began pushing lower.

Market participants traded more than 600,000 BTC via Bitfinex during the 30 days through 2nd August, Bitcoinity data reveals. This figure represented represented 1.6% of the more than 39m BTC transacted through various exchanges during the 30-day period. (source:

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