$65M in Bitcoin Money Stolen After Major Security Breach

Hackers have stolen $65 million in bitcoins after they attacked the major digital currency exchange – Bitfinex.

In response, Bitfinex has stopped all trading, withdrawals and deposits, which led to a major drop in Bitcoin price. According to the company, they are looking into the breach to find out what happened, but what they do know is that several of their users did have bitcoins stolen from their accounts.

Bitfinex Director of Community and Product Development Zane Tackett said the hackers stole a little less than 120,000 bitcoins, which is equal to over $65 million.

The Hong Kong exchanged said the hacking was reported to law enforcement, but no information as to how the attacked took place and who could be responsible for it. Tackett said the company was working with specialist companies and authorities to find the stolen bitcoins. It also wants to get the platform back up so users can find out if their accounts were affected.

After the news that the digital currency had been hacked, Bitcoin prices dropped over 20 percent.

The breach in security was a reminder of Mt. Goz, which was a leading Bitcoin exchange that halted withdrawals in 2015 after cyber attacks and technical problems. The company filed for bankruptcy some time later.

Bitfinex is one of the world’s largest Bitcoin exchanges, with the biggest volume of dollar-denominated transactions over the last 30 days.

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