Worlds Largest Cryptocurrency Exchange Hacked
July 5, 2017
Shah Sheikh (1294 articles)

Worlds Largest Cryptocurrency Exchange Hacked

User accounts of Bithumb, one of the world’s largest Bitcoins and Ether cryptocurrencies exchanges, were compromised in recent hack of the organization resulting in loss of more than $1 Million in cryptocurrencies.

Bithumb is the fourth largest Bitcoin exchange and the biggest Ethereum exchange in the world.

The user accounts of the organization were recently compromised leading to billions of South Korean Won being stolen from the customers’ accounts.

Personal information of the customers, including their names, email addresses and phone numbers were also compromised.

Usage of “disposable passwords” for carrying out digital transactions online is believed to be the reason the attack was successful. An employees’ home computer was hacked in the attack and not the entire network of the company.

“The employee PC, not the head office server, was hacked. Personal information such as mobile phone and email address of some users were leaked,” reported by Bithumb.

Customers of the Bithumb have already filed complaints with the National Police Agency’s cybercrime report center regarding the hack.