Hacked: Billions of Won Stolen From The Largest South Korean Bitcoin Exchange
According to a local South Korean newspaper, the Bithumb exchange suffered a cyber attack that resulted in the loss of billions on won from customer's accounts.
Bithumb is the largets bitcoin and Ether exchange in South Korea by volume and the fourth largest globally. They reportedly are 10% of the global bitcoin trade and have over 13,000 bitcoins worth of daily trading volume.
"The employee PC, not the head office server, was hacked. Personal information such as mobile phone and email address of some users were leaked. However, some customers were found to have been stolen from because of the disposable password used in electronic financial transactions.”
-Bithumb
The apparent hackers succeeded in grabbing over 30,000 Bithum user's personal information and the exchange claims only 3% of their users were affected.
The breach was discovered on June 29 and reported the next day to authorities.
With the personal information, hackers apparently used "voice phishing" where they would call up the victims and pose as representatives of Bithumb. Once victim has claimed that someone posed as an executive at Bithumb on the phone and told him that his account was "suspicious of a foreign hacking transaction," and instructed him to give up his One-Time Password. The hacker then gained access to his account that had an apparent worth of $10 million won, that is around $8700 USD
Bithumb Exchange made a statement that they will be compensating those that were affected and would pay up to 100,000 won per person, that is currently around $870 USD. They will compensate further damages as the exact amount that was lost is confirmed
More than 100 Bithumb complaints from customers were filed with the National Police Agency's cybercrime report center.
More details here
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Hi, I'm calling from Blockchain.info? I think your account may have been compromised - can you tell me the 16 words you wrote down when you created your account? Thanks so much.....
Oh no! okay, my 16 words are:
me so dumb and should know better but will give you all my money for free
Thank you...
This is another blow to the Crypto world. We really need a Decentralized exchange with Smart Contracts, so that Middlemen roles are lessened.
Although this is big news, I hope it doesn't affect the overall Crypto marketcap that much.
Yea, I don't think it's going to get affected that much but we'll have to wait and see.
Wonderful new coins vs awful exchange stations. This is the sad reality in the crypto world. Good post~! :D
Thanks, I appreciate the comment :)
This is going to happen a lot. I mean employees install all crazy kind of shit, weren't they using some secure CRM? Sheesh.
Yea, they should of know better.
This is really bad. :(
Yea well it's only the Korean market so not that bad but still bad.
That's pretty naive to say. Have you worked at a company where everything was top notch regarding security? I have worked on SW for Air Traffic Control. Even there not everything was done right!
Why is that naive to say? An employee PC was hacked. Not their main server. Sounds like they didn't take the necessary precautions to secure the employee PC. Doesn't even sound like users personal information was encrypted.
New hack every week in a crypto scene. Seems like hackers have found a new niche to keep them busy. Each new hack being bigger with more losses than before.
Yea well, exchanges need to be more secure. This hack was because of an employee PC. Not too smart...
That fucking sucks
Yea it does. Hopefully we won't see it affect the current price of bitcoin...
Hackers on the run.
Good job @bitcoinparadise . Nice post. Upvoted 👍
Thank you.
Great dear friend
I gave upvote to your post
♥
Thanks.
Nice post. Have a great day.
Thanks you too.
We have to careful... Thanks for sharing this post