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Bitfinex Hack (August 2016)

Token: BTC

Date: 08 Feb 2016

Estimated value: 72 200 000

Early in the morning on August 2, 2016, hackers breached the security systems Bitfinex exchange. As a result, 2072 unauthorized transactions were broadcast on the Bitcoin network, involving 119,754.81216269 BTC in the aggregate . It is unclear how the hacker was able to compromise the multi-signature system, though some suggest the cosigning process may have been overly dependent on automated signoffs on transactions below a certain value threshold.