Bitfinex Reports Security Breach, Bitcoin Price Slumps

Bitfinex reports it has discovered a security breach that requires a halt to all trading on its platform. The exchange also claims that Bitcoins belonging to some of its users are stolen.

The company states on its website:
“We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen. We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up.”

Bitcoin price drops

As a result, the price of Bitcoin slumped to as low as $560, a reversal to its price in the first week of June 2016.

However, there are insinuations that certain manipulations could have taken place.

Simon Dixon, Co-Founder BnkToTheFuture.com, Fund Manager Bitcoin Capital, tweets:
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