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Bitcoin Hit by $61m Hacking Theft

Bitcoin Hit by $61m Hacking Theft

Bitcoin has issued a statement confirming that it has fallen victim to hacking theft.

The online currency trader’s exchange Bitfinex was compromised by cyber attackers, who withdrew around $61 million from a number of consumer accounts.

Details of the breach remain unconfirmed, but it is thought that the hackers bypassed Bitfinex’s mandated limits on withdrawals.

“The theft is being reported to – and we are co-operating with – law enforcement” the statement from Bitcoin reads.“We ask for the community’s patience as we unravel the causes and consequences of this breach.”

Having detected the breach, Bitfinex halted trading at 2pm on 2nd August in an attempt to stave off further thefts. Bitfinex has also given users access to the public blockchain, so they can see if their accounts have been affected.

Bitfinex users affected by the cyber attack have spoken out about its impact; community direcotor Zane Tackett posted on Reddit, estimating the value stolen to be 119,756 bitcoin, which is around $61 million according to current exchange rates.

Whether Bitfinex will be able to sustain this loss remains to be seen, but there is still a possibility of locating and restoring the funds.

According to Tackett, Bitfinex is “focused on tracing the coins and working with the relevant authorities at this time.” 

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