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The Bitcoin Heist

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Hong Kong-based Bitfinex suspended all trading after discovering a theft of Bitcoin worth tens of millions. Detailed on the company’s site, all digital deposits and withdrawals have been suspened as well. The  reported loss is estimated at just under 120,000. That puts the total loss at around $65 million at the current exchange rate. The company did announce that the theft was limited specifically to Bitcoin wallets and no other digital tokens currently traded on the site were impacted by the theft. While the authorities attempt to trace down the location of the stolen funds, Bitfinex will also have to figure out how hackers were able to circumvent the company’s withdrawal limits.

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