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Bitfinex chief technology officer Paolo Ardoino has definitively refuted recent allegations of a data breach involving the cryptocurrency exchange, describing the claims as “fake.” Ardoino confirmed that an internal review was conducted to verify the integrity of Bitfinex’s user database after the rumors emerged.

Tether’s sister crypto exchange, Bitfinex, faced an attempted exploit leveraging a feature of the XRP Ledger network. CEO Paolo Ardoino confirmed on X that the exchange successfully thwarted this attempt.

He converted bitcoin to other forms of cryptocurrency, including anonymity-enhanced cryptocurrency (AEC), in a practice known as “chain hopping”; deposited a portion of the criminal proceeds into cryptocurrency mixing services, such as Bitcoin Fog, Helix, and ChipMixer; used U.S.-based business accounts to legitimize their banking activity; and exchanged a portion of the stolen funds into gold coins, which Morgan then concealed by burying them.

Tether’s sister crypto exchange, Bitfinex announced that it has made an undisclosed investment in OrionX, a Chilean crypto exchange, as part of its strategy to expand its presence in Latin America. The specific details and financial terms of the investment were not disclosed.

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