In August 2016, approximately 119,756 bitcoins were stolen from Bitfinex, one of the world's largest cryptocurrency exchanges. The breach resulted in an estimated loss of approximately $72 million at the time. To this day, the exact amount of stolen funds has not been determined, but it is suspected that the hackers may have taken even more crypto assets than initially reported.
What measures has Bitfinex taken in order to prevent a similar attack in the future? [KEYWORD]Security Measures[/KEYWORD]
In order to prevent a similar attack from occurring in the future, Bitfinex has implemented a series of security measures. These include the implementation of 2-factor authentication, cold storage of user funds, and the use of multi-signature wallets. Additionally, Bitfinex has implemented a strict KYC/AML policy that requires customers to provide proof of identity in order to be approved for trading on the platform.
What measures has Bitfinex taken in order to prevent a similar attack in the future? [KEYWORD]Security Measures[/KEYWORD]
In order to prevent a similar attack from occurring in the future, Bitfinex has implemented a series of security measures. These include the implementation of 2-factor authentication, cold storage of user funds, and the use of multi-signature wallets. Additionally, Bitfinex has implemented a strict KYC/AML policy that requires customers to provide proof of identity in order to be approved for trading on the platform.