Paolo Ardoino Denies Presumption That Bitfinex Had a Data Breach Last Month


Bitfinex CTO Paolo Ardoino has denied reports that the cryptocurrency exchange fell victim to a database hack last month.

Ardoino, who is also the chief executive officer of Tether, claims on the social networking site X that the database breach seems to be false and that the funding of users is secure.

In Ardoino’s view, there was no breach at the cryptocurrency exchange, and the specifics of the alleged attack don’t add together. He continues by saying that security experts could have been too quick to hype the supposed vulnerability.

“Everyone is freaking out because Bitfinex might have had a database leak.” Allegedly, the hackers have uploaded two mega links containing 22,500 email and password records as sample material.

Ardoino gives honours to an anonymous cybersecurity expert who, rather than freaking out, he claims carefully reviewed the event’s specifics. The expert claims that the purported data breach served mainly as a promotional tool for the hackers’ tool, which they sell for several hundred dollars.

“The fact that they were able to hack into prestigious institutions and generate an uproar of publicity about it serves as an endorsement of their product, suggesting that others should purchase it in the hopes of making millions of dollars exploiting other businesses. The vendors of this tool are using you as clickbait to make other con artists believe this tool is legitimate.”

Also Read: Jack Dorsey quits Bluesky board on decentralized social network

Leave A Reply

Your email address will not be published.