Confirmed: $61.8 million stolen from Bitfinex in exchange heist

In what is one of the biggest bitcoin exchange hacks of the year, Bitfinex has confirmed with the public that at least $61.8 million dollars worth of bitcoin has been stolen from the exchange.

As reported earlier today, Bitfinex was hacked. The extent of the breach at the time was unknown, but in a social media post from Zane Tackett, the Director of Community and Product Development at Bitfinex, he confirmed that 119,756 BTC was stolen from the exchange today.

The amount of bitcoin is currently valued at $61.8 million USD, although at the time of the hack the value was much higher since the bitcoin price has dropped considerably since the announcement of the hack.

Speculation has been running wild as how this could have happened. Bitfinex has each customer wallet segregated from each other in multisignature accounts with one key held by bitcoin enterprise and wallet company, BitGo. It’s quite possible that Bitfinex and BitGo were blindly signing each transaction without any sort of checks or fail-safe, but it’s unclear at this time the exact vulnerability that was exploited in the hack.

Bitgo has yet to comment on the matter, and Bitfinex hasn’t divulged more information on the hack as they figure out exactly what has happened. It’s possible that the final number of bitcoin stolen may rise once we find out more information.

Update: BitGo has commented on the issue saying, “As we directly notified our customers earlier today, our investigation has found no evidence of a breach to any BitGo servers.”

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david@bitcoin.com'
David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.