Hackers steal $65 million … in bitcoin
Hackers made off with approximately $65 million in bitcoin in an enormous security breach of Hong Kong-based exchange Bitfinex on Tuesday. The digital currency thieves managed to get ahold of a total of 119,756 bitcoin, prompting Bitfinex to freeze all customer accounts, which resulted in a 20 percent nosedive in the price of bitcoin. Since, prices have recovered a bit.
"This will hurt confidence but people already using bitcoin are still trading," Arthur Hayes, founder of Hong Kong-based BitMEX, told The Financial Times.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Zane Tackett, who serves as the director of community and product development at Bitfinex, told CNN that the exchange is working to track the stolen bitcoins.
-
Why it’s important to shop around for a mortgage and what to look forThe Explainer You can save big by comparing different mortgage offers
-
4 ways to save on rising health care costsThe Explainer Health care expenses are part of an overall increase in the cost of living for Americans
-
How to financially prepare for divorceThe Explainer Facing ‘irreconcilable differences’ does not have to be financially devastating
-
TikTok secures deal to remain in USSpeed Read ByteDance will form a US version of the popular video-sharing platform
-
Unemployment rate ticks up amid fall job lossesSpeed Read Data released by the Commerce Department indicates ‘one of the weakest American labor markets in years’
-
US mints final penny after 232-year runSpeed Read Production of the one-cent coin has ended
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
