Due to a major hack at the Hong Kong-based digital currency exchange Bitfinex, Bitcoin value has now dropped more than 10%.

bitcoin-securityBitfinex has stated that nearly 120,000 Bitcoins were stolen in the attack, with the value of around $65m. All transactions have now been suspended while the breach is investigated. The attack is one of the biggest Bitcoin thefts in history.
In a statement on its website, Bitfinex stated:

“Today we discovered a security breach that requires us to halt all trading on Bitfinex, as well as halt all digital token deposits to and withdrawals from Bitfinex.

We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen. We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up.

The theft is being reported to — and we are co-operating with — law enforcement.”

Securing bitcoin trading platforms has been a key challenge, with hacking and thefts seen as the biggest threats.

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