Bitfinex resumes trading following $77m hack

Bitcoin exchange Bitfineix is up and running again after last week suffering a security breach that saw 19,756 bitcoins stolen from users’ accounts.

The bitcoins had a combined value of $77m at the time.

A week after the hack the Hong Kong-based company is restoring service and allowing exchange trading for all currencies, as well as deposits and withdrawals for a range of cryptocurrencies and US dollars.

Exchange trading will also be available for the BFX tokens that the company issued all users after its decision to skim 36% from each account to share losses for the hack across the community.

“In the past week, we have taken significant steps to ensure that we can restore service in a secure environment,” said the Bitfinex in a statement.

“We have added additional platform and infrastructure security checks; regenerated all encrypted services, including wallets, security tokens, and passwords; moved funds to multisig cold storage; re-evaluated all third-party integrations; performed a comprehensive system audit in order to identify vulnerabilities; and, rebuilt our entire platform on new infrastructure.”

The company previously said that it is in negotiations with investors to raise more money to fully compensate all customers.

The theft from the services caused the cryptocurrency’s price against the dollar to drop from $631 to $518 in less than 24 hours.

Copyright © 2016 FINTECH GLOBAL

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