On January 14, 2024, Bitfinex CTO Paolo Ardoino announced a hacker attack on the exchange. The attacker tried to gain access to funds using the “partial payments” vulnerability.
Someone attempted to attack @bitfinex via “Partial Payments Exploit”.
Attack failed since Bitfinex properly handles 'delivered_amount' data field.https://t.co/EiGw9UQmmq(updated with better gif) https://t.co/8I7vlO05ou pic.twitter.com/DxOnJLLkhU
— Paolo Ardoino 🍐 (@paoloardoino) January 14, 2024
Ardoino explained that the supposed transaction worth about $15 billion in XRP tokens turned out to be fake. An unknown person attempted to falsify the deposit and actually sent a much smaller amount, marking it as a partial payment.
Information about the large XRP transfer first appeared on the Whale Alert page on X (formerly Twitter). Analysts reported a large transfer of 25.6 billion XRP, representing almost half of the coins in circulation.
The message was later deleted. Whale Alert reported “an issue with Ripple data being misread, resulting in incorrect information being published.”
🛠️ There was an issue with properly reading the #Ripple node response, resulting in a few wrong posts. We fixed the issue.
— Whale Alert (@whale_alert) January 14, 2024
According to the data Bithompthe attacker tried to attack another crypto exchange Binance using a fake transfer of 58.9 billion XRP, but the exploit attempt also failed.
In 2019, a user of the BitoPro exchange withdrew about 7 million XRP using the “partial payments” vulnerability. The mechanism of how the exploit works was explained in detail by the Bitrue platform team:
In response to this attack, we've created this thread to raise awareness for [XRP Partial Payment Vulnerability] and its risks. We encourage all platforms who support $XRP to look into it thoroughly! @WietseWind @Curis_Wang https://t.co/weCqtxmRLU
— Bitrue (@BitrueOfficial) May 2, 2019
In September 2023, the CoinEx cryptocurrency exchange was hacked for $53 million. We also reported that unknown persons withdrew more than $6 million in XRP from the Coins.ph platform.
Source: Cryptocurrency
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