One of the leading cryptocurrency exchanges has suspended operations following a security incident which led to the loss of Bitcoin held on the exchange. The breach in the platform’s security was discovered earlier today, after which Bitfinex put all trading activities on hold.
According to the statement published by Bitfinex, the breach has affected Bitcoin wallets, leaving other cryptocurrency offerings untouched. Law enforcement authorities have been notified about the incident and the company will be cooperating with them during the investigation.
There are reports of few customers losing their bitcoin holdings to cyber criminals responsible for the incident. The platform is currently reviewing the incident to determine the extent of losses and those who are affected by it.
The company will be settling all open margin positions and any other associated finances as it investigates the breach. Any settlements to be made will be according to the bitcoin price at 18:00 UTC on Tuesday, August 2, 2016.
The platform is currently taking steps to normalize account balances so that it can resume operations as soon as possible. All future updates about the hacking incident will be made available on the platform’s status page available at the following URL- http://www. bitfinex.statuspage.io
Until further details emerge, Bitfinex urges its customers and the Bitcoin community to be patient.
Bitfinex is not the first exchange to have its security compromised this year. Recently Shapeshift.io and Gatecoin also had digital currency stolen due to hacking incidents.
Bitfinex had also faced some issues on July 26th, which was fixed within hours to resume normal operations.