BitFinex Successfully Foils Attempted 15B Dollar XRP Cyberattack
Bitfinex's Adept 'Delivered Amount' Handling Thwarts Attack
Bitfinex, a prominent cryptocurrency exchange, has successfully thwarted a bold attack aimed at compromising $15 billion worth of XRP tokens. The audacious exploit, which sought to exploit a "Partial Payments Exploit," was effectively neutralized through the exchange's adept management of critical transaction data. Recently, Levana Protocol has also faced DeFi attack, but they have swiftly tackled it.
Whale Alert, a well-known blockchain tracking service, initially detected a noteworthy transfer of 25.6 billion XRP, accounting for almost half of the circulating supply, from an anonymous wallet to Bitfinex. This transaction, subsequently confirmed as part of the attempted exploit, triggered significant reactions within the cryptocurrency community.
In response to the incident, Paolo Ardoino, CTO of Bitfinex, addressed the situation on social media. He clarified that the exchange had been targeted by an attacker who presumed that Bitfinex's software was susceptible to a "Partial Payments Exploit."
This exploit technique relies on the assumption that a company's system only recognizes the "amount" field in an XRP transaction, disregarding the actual transferred amount. Bitfinex's adept handling of critical transaction data played a crucial role in foiling the attack. Apart from this, DeFi hacks and security challenges are becoming a real concern nowadays.
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