Bitfinex Chief Technology Officer Paolo Ardoino defied rumors of its database breach. Several reports suggested a potential database leak of 22,500 records of emails and passwords from Bitfinex users. However, as per Ardoino, the breach was likely fake, and only a small percentage of the leaked information matched the exchange users. He also questioned the legitimacy of the hackers’ claims and the failure to contact the exchange directly. The hackers had reportedly spread the rumor to generate hype and attract potential investors for future hacks.