HALF Of Circulating XRP Supply Sent To BitFinex? The Exchange RESPONDS

January 14, 2024 9:10 pm Comments

Earlier today, it was widely reported that 50% of all the XRP circulating supply was sent, in a single transaction, to BitFinex.

One individual or entity allegedly attempted to send 25,601,477,777 XRP to the BitFinex exchange. Needless to say, this raised more than a couple of eyebrows.

It is now being reported that this transaction was a fake transaction and never went through. According to BitFinex’s Chief Technology Officer, Paolo Ardoino, the transaction represented an attempted exploit.

Ardonio claimed the hacker attempted to execute a “Partial Payments Exploit,” but the malicious attack was thwarted.

Below are the details of the attempted transaction and the reports from multiple members of the crypto community:

Bein Crypto provided more details:

Bitfinex chief technology officer Paolo Ardoino took to X (formerly Twitter) to confirm to his 217,100 followers that an attack was attempted on the cryptocurrency exchange.

“Someone attempted to attack Bitfinex via “Partial Payments Exploit”. Attack failed since Bitfinex properly handles ‘delivered_amount’ data field.”

Sources are now reporting that the trade did not occur and represents a bug that needs to be addressed. Hopefully, BitFinex uses this as a learning opportunity to thwart any future, similar attacks.

Coin Telegraph featured this related development impacting BitFinex:

On Dec. 28, 2023, the Indian Ministry of Finance’s Financial Intelligence Unit (FIU) issued a notice to Binance, Huobi, Kraken, Gate.io, KuCoin, Bitstamp, MEXC Global, Bittrex and Bitfinex for operating illegally in India.

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