A massive data breach has shocked Bitfinex, a renowned crypto exchange, exposing sensitive information belonging to nearly 400,000 consumers. This incident has raised concerns about the safety of user accounts and funds following a previous attack.

Paolo Ardoino, the chief technology officer of Bitfinex, has expressed doubt about the legitimacy of the breach, stating that the situation "seems fake" based on available information. The CEO of Tether, closely linked to Bitfinex, has also raised doubts about the veracity of the breach, although he acknowledged that some data was compromised.

While some data, including email addresses and passwords, was allegedly released by hackers, Ardoino emphasized that sensitive information like 2FA secrets or plaintext passwords are not stored in plain text. Additionally, only 5,000 out of 22,500 email addresses were associated with Bitfinex users. The CEO of Tether reassured consumers that their systems have not been breached and highlighted the security measures in place to prevent large data downloads.

Despite the unsettling nature of the breach, Bitfinex and Tether remain vigilant and proactive in addressing security concerns, ensuring the safety and protection of user data.