Bitfinex CTO Paolo Ardoino Debunks Rumors of Database Breach, Ensures BTC and ETH Security

• Bitfinex’s CTO, Paolo Ardoino, has debunked rumors of a database exploit on the crypto exchange platform.
• Ardoino assures users that their funds are safe and the alleged database breach appears to be a hoax.
• He criticizes security researchers for prematurely hyping the supposed exploit without thorough investigation.

Bitfinex’s CTO, Paolo Ardoino, debunks rumors of a database exploit, assuring users of the safety of their funds and criticizing security researchers for hyping the alleged breach.

Bitfinex CTO Denies Database Exploit

Paolo Ardoino, the Chief Technology Officer at Bitfinex, has dismissed rumors that the cryptocurrency exchange was a victim of a database exploit last month. Ardoino, who also serves as the CEO of Tether, stated on social media platform X that the alleged database breach appears to be fake and that users’ funds are safe.

Details of the Supposed Hack

Ardoino explained that the details of the supposed hack do not align with Bitfinex’s security protocols. He pointed out that Bitfinex does not store plaintext passwords or two-factor authentication secrets in clear text. Furthermore, only 5,000 out of the 22,500 emails provided by the alleged hackers matched with Bitfinex users. Acc... Read the full article for FREE at COINOTAG!