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Bitfinex CTO Denies FSOCIETY's Claims of Plaintext Password Breach

May 5, 2024, 05:43 AM

A series of tweets have surfaced concerning a purported security breach at cryptocurrency exchange Bitfinex. Allegations arose when a ransomware group, FSOCIETY, claimed to have compromised Bitfinex's security, suggesting they had access to user data including plaintext passwords. However, Bitfinex's Chief Technology Officer, Paolo Ardoino, has firmly denied these claims, stating that the exchange does not store passwords or two-factor authentication secrets in plaintext. Ardoino, who is also the CEO of Tether, labeled the breach claims as skeptical. Despite these denials, a follower tested some of the alleged leaked passwords, confirming they were recognized by the system, although access was blocked by two-factor authentication. The hacking group also claimed to have targeted Rutgers University and used data from GitHub.