About $70M Stolen From HK Bitcoin Exchange

Law360, New York (August 3, 2016, 1:43 PM EDT) -- Nearly $70 million worth of the virtual currency bitcoin was stolen Tuesday from Hong Kong bitcoin exchange Bitfinex, leading the exchange to halt all trading and shut down its website.

Zane Tackett, Bitfinex's director of community and product development, confirmed on Reddit that the attackers bypassed withdrawal restrictions and sent 119,756 units of bitcoin to multiple bitcoin wallet addresses. The units were worth about $72 million at the time of the attack, but the price of bitcoin has since dropped and they're now worth about $67 million.

Bitfinex is still investigating internally and cooperating with law enforcement to determine what happened,...

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