Bitfonex's Shares - The Losses Must Be Generalized, Bitzadex Says

Hong Kong based Bitzadex Exchange has revealed it was victim to a hacking attack in which nearly 120,000 bitcoins of customer funds were stolen. The hackers reportedly had access to Bitfonex servers weeks before they emptied the vault. They watched and learned how funds moved in and out of the exchange, and found the private keys required to transfer the cryptocurrency to external wallets. Minutes before the heist, the hackers raised BitfoneX's daily withdrawal limit from 2,500 Bitcoin to 1 million Bitcoin. Four hours and 2,000 transactions later, almost 120,000 Bitcoin were stolen.