Menu
Bitcoin exchange Bitfinex apparently loses US$63 million to hackers

Bitcoin exchange Bitfinex apparently loses US$63 million to hackers

Bitfinex reported the hack Tuesday and is working with law enforcement

A digital currency exchange in Hong Kong has suspended trading after a security breach in which thieves made off with an apparent US$63 million worth of bitcoin.

The exchange, Bitfinex, reported the intrusion on Tuesday and said it was working with law enforcement.

“We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen,” the exchange said.

Its statement doesn't say how many bitcoins are missing, but Zane Tackett, the site's director of community and product development, said on Reddit that the losses stand at 119,756 bitcoins. Bitfinex didn't immediately respond to a request to confirm that figure.

A bitcoin was trading at $527.25 at the time of this report, although the price was falling as news of the hack spread.

Bitfinex is used to trade other digital currencies too, including ether and litecoin, but the site says only bitcoins were affected.

“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 exchange said.

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

It's not the first exchange to have lost money in a breach this year. In April, Shapeshift was hacked in what it said later was an inside job. A month later, Gatecoin was reportedly hacked to the tune of about $2 million.

Those incidents were dwarfed by the collapse of Tokyo-based Mt. Gox two years ago, which shut down after losing bitcoins valued then at $474 million.

"We are going to keep the site down until we are 100 percent certain that the site is secure and that is safe to bring everything back online," Tackett said Tuesday on Reddit, where he was frantically answering questions from users.


Follow Us

Join the newsletter!

Error: Please check your email address.

Featured

Slideshows

Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
Show Comments