Bitcoin exchange Bitfinex hacked for $60m worth of bitcoins
The Hong Kong-based bitcoin exchange, largest of all other exchanges in terms of USD/BTC trading volume, was hacked for more than $60m worth of bitcoin (119,756 BTC). The Bitfinex theft represents the largest loss of bitcoins by an exchange since Japan’s infamous Mt Gox lost 744,408 BTC in year 2014. The company said it had reported the theft to law enforcement and was cooperating with top blockchain analytic companies to track the stolen coins.
Direct impacts of the Bitfinex hack could be seen in the price of bitcoin falling nearly 20%.
About author
DW Team
The GIP Digital Watch Observatory team, consisting of over 30 digital policy experts from around the world, excels in the fields of research and analysis on digital policy issues. The team is backed by the creative prowess of Creative Lab Diplo and the technical expertise of the Diplo tech team.