Bitfinex Breach Incident Score: Analysis & Impact (BIT1767389750)

In this Rankiteo incident briefing, we review the Bitfinex breach identified under incident ID BIT1767389750.

The analysis begins with a detailed overview of Bitfinex's information like the linkedin page: https://www.linkedin.com/company/bitfinex, the number of followers: 43695, the industry type: Financial Services and the number of employees: 285 employees

After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 756 and after the incident was 547 with a difference of -209 which is could be a good indicator of the severity and impact of the incident.

In the next step of the video, we will analyze in more details the incident and the impact it had on Bitfinex and their customers.

Bitfinex recently reported "Bitfinex Bitcoin Theft and Laundering Scheme", a noteworthy cybersecurity incident.

Hacker Ilya Lichtenstein and his wife Heather Morgan were involved in the theft and laundering of billions of dollars worth of Bitcoin stolen in the 2016 hack of crypto exchange Bitfinex.

The disruption is felt across the environment, affecting Bitfinex crypto exchange, and exposing Bitcoin holdings, plus an estimated financial loss of Billions of dollars in Bitcoin.

Formal response steps have not been shared publicly yet.

The case underscores how Closed.

Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.

The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.

Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Valid Accounts (T1078) with moderate to high confidence (70%), supported by evidence indicating theft of billions in Bitcoin from the 2016 Bitfinex breach and Exploit Public-Facing Application (T1190) with moderate confidence (60%), supported by evidence indicating bitfinex crypto exchange systems affected. Under the Credential Access tactic, the analysis identified Unsecured Credentials (T1552) with moderate confidence (50%), supported by evidence indicating implied access to Bitfinex systems for Bitcoin theft. Under the Exfiltration tactic, the analysis identified Exfiltration Over Alternative Protocol (T1048) with high confidence (90%), supported by evidence indicating data exfiltration such as Yes, Bitcoin holdings compromised and Exfiltration Over Physical Medium (T1052) with lower confidence (30%), supported by evidence indicating large-scale Bitcoin theft may involve offline transfers. Under the Impact tactic, the analysis identified Data Encrypted for Impact (T1486) with lower confidence (20%), supported by evidence indicating bitcoin theft implies unauthorized transfer/control and Financial Theft (T1657) with high confidence (95%), supported by evidence indicating billions of dollars in Bitcoin stolen,financial loss such as Billions. Under the Defense Evasion tactic, the analysis identified Obfuscated Files or Information (T1027) with moderate to high confidence (80%), supported by evidence indicating laundering of $4.5B in stolen Bitcoin and Valid Accounts (T1078) with moderate to high confidence (70%), supported by evidence indicating implied use of compromised accounts for theft. Under the Lateral Movement tactic, the analysis identified Remote Services (T1021) with moderate confidence (50%), supported by evidence indicating access to Bitfinex systems likely required internal movement. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.