Attempted Hack on Bitfinex
An attempted hack on crypto exchange Bitfinex was flagged when a large transfer of XRP was detected. The hacker tried to exploit the XRP Ledger’s “partial payment” feature, which allows users to send less than the specified amount in a transfer. However, Bitfinex’s systems properly handled the attack and prevented any damage.
Whale Alert Misreporting
Whale Alert, a whale-watching service, initially reported that nearly half of the entire XRP supply was sent in a single transfer. However, this turned out to be a false report due to a misunderstanding of the transaction. The actual transfer was just a partial payment and only moved a small amount of money.
Proper Handling of Exploit Attempts
Bitfinex’s CTO and Tether CEO, Paolo Ardoino, confirmed that the exchange’s systems are configured to handle partial payment exploit attempts on the XRP Ledger. This ensures that any attempted attacks using this method will be unsuccessful.
Hot Take: Failed Attempt to Hack Bitfinex with XRP
An unknown entity recently attempted to hack into crypto exchange Bitfinex by exploiting the XRP Ledger’s partial payment feature. The hacker hoped to trick the exchange into returning the difference between the specified and delivered amounts. However, Bitfinex’s systems were able to handle this exploit attempt and prevent any damage. Whale Alert initially misreported the incident, claiming that nearly half of the entire XRP supply was transferred. In reality, it was just a partial payment for a small amount. This incident highlights the importance of robust security measures in cryptocurrency exchanges.
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