Failed $15 Billion XRP Exploit Attempt at Bitfinex

By Benito Cormi Jan 16, 202468Views

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Failed $15 Billion XRP Transfer Attempt on Bitfinex

An unsuccessful attempt to exploit cryptocurrency exchange Bitfinex involved a transfer of almost $15 billion worth of XRP tokens. This amount represents nearly half of XRP’s $31 billion market capitalization, causing concern among crypto watchers. However, it was later revealed that the transaction was only a deceptive maneuver and failed due to insufficient liquidity. Paolo Ardoino, Bitfinex’s Chief Technology Officer, confirmed the incident and stated that the exchange had been targeted by a “Partial Payments Exploit.” Thankfully, Bitfinex’s security systems correctly identified and flagged the transfers as “partial payment,” thwarting the attack. Despite this incident, XRP’s price remained relatively stable, only experiencing a 0.3% decrease.

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Benito Cormi

Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.