US$72 million worth of bitcoin stolen from Hong Kong exchange

Bitcoin hack

Trading was suspended on Hong Kong's Bitfinex exchange this week after a reported US$72 million worth of the digital currency was stolen by hackers.

According to a statement on the Bitfinex website, a security breach was discovered on Tuesday afternoon, forcing them to suspend all digital token deposits and withdrawals. The company said that they were undertaking a review to identify which users had been affected. It is understood that the breach was limited to bitcoin wallets and that all other digital tokens traded on Bitfinex were unaffected.

The statement said that any customer settlements would be made according to market prices at 6pm UTC. Bitcoin plunged over 23 percent on Tuesday.

In an update on Wednesday, the company reported that they were "in the process of restoring limited functionality in a secure environment, with full functionality coming afterwards in progressive stages".

It went on to say that "to accommodate the relaunch, all withdrawals, open orders, and open funding orders will be cancelled". Trading remained closed as of 5pm HKT, with the company's website displaying a maintenance page.

Police are still trying to establish who was behind the theft, however it is not believed to have been an inside job.


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