Cryptocurrency is commonly seen as the future of money exchange now and its secure payments is what made it famous amongst many. However, in the mirage of brutal hacking attempts being made in every field, the hackers have found their way to successfully carry out a cryptocurrency exchange hacking. This hacking is so severe that according to an estimate, almost $1 million has been lost due to this hacking belonging to various customers.
This hacking attempt was made on the famous Bithumb which belongs to South Korea and is the largest cryptocurrency exchange of South Korea. Bithumb is ranked 4th in the largest Bitcoin and Ethereum exchange. A major local newspaper of South Korea, around 10 million Won worth of bitcoins were stolen from an account. As quoted from officials from Bithumb:
“The employee PC, not the head office server, was hacked. Personal information such as mobile phone and email address of some users were leaked,” Bithumb told the newspaper. “However, some customers were found to have been stolen from because of the disposable password used in electronic financial transactions.”
Despite this cryptocurrency exchange hacking, Bithumb still claims that “only” one of its employee’s computer’s got hacked and it is “impossible” to gain access to user accounts directly. However, Bithumb quoted that the loss of funds is the result of using “disposable passwords”. The head office server’s hacking isn’t still accepted by the company.
After the complaints filed by more than 100 Bithumb customers at cybercrime report centre, South Korean officials have started a serious investigation into this matter.
Therefore, it is advised to every cryptocurrency user to take immediate steps as advised by the authorities on your cryptocurrency accounts to avoid any cryptocurrency exchange hacking affecting you. Stay updated and stay safe!