Bitfinex Customers Fall to Phishing Scam After Employee Faces Hack Attack

Bitfinex recently faced a phishing attack when one of the employees was hit with a phishing attack. However, the management of the crypto exchange has retained that the system remained secure against the attackers. At the same time, Bitfinex also informed investors that the hack was dubbed as a minor data breach.

The attackers attempted to infiltrate the network through a customer support agent between 30 October and 5 November. This resulted in a series of phishing attacks against Bitfinex investors. However, at large the attackers remained safe against the exploits as per a new statement issued on 4th November.

The notification further informed investors that CS agents were in possession of partial, stale, and incomplete information. The attackers tried the information by attacking one of the CS agents. However, the CS agent in question did not have senior permissions and limited access to the help desk panel.

Bitfinex also informed its customers that its system was not compromised and all customer funds were safe. The firm further noted that hackers did not access servers, wallet accounts, or database infrastructure.

Customer Funds are Safe, Says Bitfinex

Bitfinex also noted that customer funds were inaccessible and not at risk. Furthermore, the firm retained that the password information of the account holders was inaccessible. Additionally, none of the customer accounts went inactive or empty.

Bitfinex retained that matter has been resolved and the security team is still monitoring the incident. At the same time, the officials at Bitfinex are reaching out to the affected consumers.

The firm posted a message on social media platform X that Bitfinex prioritize the security of its account holders. The firm retained that it is working on ensuring the safety of the customer funds and transaction history to give them peace of mind.

The management of Bitfinex has reported the incident to law enforcement agencies and working with the investigators to track down the perpetrator behind phishing attacks. The firm retained that it has successfully brought perpetrators to justice in the past that have launched at attack on the company.

Bitfinex Performs Regular Security Checks

Bitfinex has informed its investors that the firm conducts regular security protocols and ensures that all its employees comply with cybersecurity practices. The firm also publishes an educational article that contained information about phishing attacks and scams. Bitfinex is based in Hong Kong and operating since 2012.

Jean-Louis van der Velde has been working as the CEO of the firm since 2013. Bitfinex ranks 17th in terms of customer trust index on CoinGecko. The total online traffic on the firm was noted at 800,000 during last month.

Bitfinex has posted a new article talking about the favorable performance of cryptocurrencies in comparison to traditional investment products. The report noted that Bitcoin and Ethereum two of the top currencies had a price appreciation of 93 and 39 percent in comparison to traditional trading options.

The firm noted that the price correlation between BTC and ETH has also remained tight since the start of the ongoing year. Bitcoin dubbed as digital gold underwent massive price surge following increasing institutional demand.

On this account, BTC prices incremented 110% since the beginning of 2023. At the same time, the consolidation in crypto reflected the economic policies implemented by Federal Reserve this year with expectation of fed rates remaining between 5.25 and 5.50 percent going forward.