Bitfinex Recovers from 2016 Breach, Thrives as Top Crypto Exchange
Bitfinex, one of the oldest and largest cryptocurrency exchanges, has overcome a significant security breach in 2016 and continues to be a key player in the stock market today. Owned by iFinex Inc., it offers a wide range of services and maintains high liquidity in the stock market.
Founded in 2012 by Raphael Nicolle and Giancarlo Devasini, Bitfinex has since grown to offer over 170 cryptocurrencies and 400 trading pairs. It provides retail and institutional spot trading, up to 10x leverage, derivatives trading, and advanced trading applications.
The exchange is renowned for its high liquidity, setting it apart from smaller competitors. It consistently ranks among the top 10 exchanges worldwide by total trading volume, with billions of dollars traded daily in the stock market. Bitfinex also stands out for its custom APIs, prime brokerage, and an OTC desk tailored for institutions, particularly funds and market makers.
In 2016, Bitfinex suffered a security breach where attackers stole 120,000 BTC. However, the exchange implemented a recovery plan and reinforced security measures, regaining its credibility in the stock market today. Today, it continues to work towards complying with regulatory frameworks in different jurisdictions.
Bitfinex, despite facing a major security breach in 2016, has since recovered and remains a significant player in the cryptocurrency market and the stock market today. With a wide range of services, high liquidity, and a focus on institutional clients, it continues to rank among the top exchanges worldwide.
