After the dust settles, the Bitfinex hack will go down in history as the second worst attack on a bitcoin exchange to date, by USD amount stolen. This clearly evokes memories of the Mt Gox debacle, although somehow this attack seems to be even more disturbing in some aspects. The funds were apparently taken from segregated wallets, although the funds were apparently not stored in cold wallets. There is also speculation about the possibility of an inside job. But before pondering about these possibilities and engaging in speculation, here are the known facts about the attack:

Facts About Bitfinex Hack  

  • $72 million USD worth of bitcoin were stolen from Bitfinex earlier this week.
  • That amounts to 119,756 coins, according to official Bitfinex information given to Reuters.
  • This amounts to roughly 0.76% of all the bitcoin mined up until August 3rd, 2016.
  • The exchange suspended operations to deal with the aftermath.
  • The attack sent cryptocurrency markets into a steep downturn.
  • Most…

Source link