Bitfinex Falls Victim to Cyber Attack During Tuesday Trading

Bitfinex Falls Victim to Cyber Attack During Tuesday Trading

Today on Tuesday, June 5, Bitfinex was forced to halt trading after a cyber attack put their system under extreme pressure. Supposedly, no information or cryptocurrencies have disappeared.

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  • Bitfinex was founded in Hong Kong in 2012 and this is not the first attack they’ve experienced.

Bitfinex is one of the largest cryptocurrency exchanges in the world and on early Tuesday morning their services shut down due to a cyber attack. According to Bitfinex themselves, a DDoS attack affected the exchanges loading times to a point where the system failed and Bitfinex had to restart it.

“The previous outage was caused by issues with one of our infrastructure providers,” Bitfinex said in a statement on their website and continued saying that “while the platform was recovering, the attack caused extreme load on the servers.”

The Servers are Supposedly Okay

At this point, it does not seem like the hackers got their hands on any personal data or cryptocurrencies and the only impact it had was a brief pause in trading. But Bitfinex hasn’t always been so lucky. The exchange has fallen victim to several cyber in the past. For example, in August 2016, 120,000 Bitcoins were stolen from the exchange in a hacker attack.

Immediately after the attack, the price of Bitcoin dropped by over 2%, falling closer to the $7,000 mark every day.

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