Bitfinex Denies FSOCIETY Hack: Update | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker

The alleged ransomware group, FSOCITY, has reportedly commenced assaults on high-profile targets such as Bitfinex, Rutgers University, Coinmo, and SBAC Global. 

FSOCIETY allegedly hacked massive amounts of data belonging mostly to campaign committees as well as politicians, which is why these entities are feeling the brunt of the matter to some extent.

However, Bitfinex, denied allegations made by FSOCIETY that enhancing and upgrading its platform is not enough and they are dealing with the security of the exchange.

In response, the CTO Paolo Ardoino said that what looks like a breach does not seem to be novel. He observed Bitfinex’s security system lacked the encryption of passwords as well as the keys for two-factor authentication, which led to FSOCIETY’s advice being untrustworthy.

Ardoino, in his roles as both Bitfinex’s CTO and Tether’s CEO, centered his talks on client and system security, aiming to instill confidence in the community. He repeatedly stressed that users’ funds are secure, prioritizing transparency and reassurance. 

He highlighted inaccuracies in the leaked information saying that the alleged information leak is a marketing ploy for some hacking tool sold. Ardoin aimed at calming peoples’ fears and underlined the effective security features, that help protect users’ data.

Also read: Bitfinex Unveils $6.25M Tokenized Debt for El Salvador Hotel


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