Paolo Ardoino, the Chief Technology Officer (CTO) of Bitfinex, has dismissed claims made by hacking group Fsociety regarding a breach of the cryptocurrency exchange's database. Ardoino categorically labeled the claims as "fake," emphasizing that no ransom request had been received through official channels such as bug bounty programs, customer support tickets, emails, or social media platforms.

The misinformation surrounding Bitfinex's alleged data breach originated from social media, sparked by a tweet from Alice of Shinoji Research. Although the tweet was later deleted, it gained traction after being picked up by Walter Bloomberg, a prominent breaking news account. Walter Bloomberg cited Shinoji Research's claim that Bitfinex's data, including personal details of 400,000 users, had been hacked.

However, Alice of Shinoji Research later corrected the record, admitting that the information about the alleged breach was premature. It was revealed that the hacking group Fsociety had curated a list of Bitfinex logins from other breaches and fabricated a ransom demand to make it appear as a major breach.

Bitfinex's CTO reiterated that the exchange does not store plaintext passwords or 2FA secrets in clear text, further undermining the credibility of the alleged breach. Out of the purported 22,500 leaked records, only 5,000 matched with Bitfinex users, suggesting that the hackers likely obtained data from various other crypto-related breaches.

Despite Fsociety's claims, none of the alleged victims, including Bitfinex, have acknowledged experiencing a significant data breach or engaging in ransom payment. Ardoino questioned the legitimacy of Fsociety's assertions and shared insights from a security researcher suggesting that the hacking group's motive may have been to promote its ransomware tools.

Bitfinex has a history of security incidents, including a notable hacking incident in 2016, during which over 95,000 Bitcoins were compromised. However, Ardoino assured users that Bitfinex would diligently investigate the situation, and as of now, no breach has been detected, and all user funds remain secure.

As the crypto community remains vigilant against potential threats, Bitfinex's response underscores the importance of robust security measures and swift action to address misinformation in the industry.