Bitfinex Halts Operations Due to Security Issues: $65 Million Stolen

News and Analysis

Popular crypto-exchange Bitfinex has announced on Tuesday, August 2 that it halts all operations as a critical security issue has been discovered.

The exchange’s specialists are studying the problem, however, it is already known that about $65 million worth of bitcoins has been stolen from the exchange, according to company’s representative Zane Tackett.

All the updates regarding the current situation to be reported at

All the updates regarding the current situation to be reported at will not become operational as long as the investigation is ongoing, and the security level has been restored. The exchange’s administration has informed law enforcement of the incident.


Marginal positions will be reopened once the losses are assessed for reimbursement purposes. All settlements will be conducted at current market prices effective at 6.00 PM UTC. The exchange will consider several options of reimbursing its clients for the stolen bitcoins. The administration noted that the incident involves only bitcoin wallets, leaving other tokens untouched.

The halting at Bitfinex might have affected abrupt cheapening of bitcoin. Whereas the cryptocurrency was traded at around $600 yesterday, its exchange rate at the moment of publication stands at around $555.


This July, Bitfinex experienced similar problems, also resulting in abrupt cheapening of Bitcoin.

Notably, Mark Karpeles of MtGox has publicly announced he did not hack Bitfinex:

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