Bithumb Hacked Again $21M gone

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Bithumb Hacked Again: $13 Million in EOS, 20 Million XRP On the Move

Bithumb was hacked for the second time in less than a year as attackers managed to steal 3 million EOS coins and 20 million XRP. The subsequent laundering of the $21 million dollar haul was then tracked in real time by a twitter analyst, as the hacker swapped the tainted coins for other cryptocurrencies on non-KYC exchanges.

BITHUMB HACKED AGAIN: 3 MILLION EOS GONE!
The news broke late on Saturday morning (UST) as crypto entrepreneur and analyst Dovey Wan relayed reports apparently coming from a security firm who were auditing for Bithumb.

The attack was at first feared to have struck the cryptocurrency’s exchange’s cold wallet. However it was later confirmed that it was an online ‘hot wallet’ that had been hacked. As Wan stated, this is the second time in less than a year that Bithumb has fallen prey to the same trap:



“And this is the second time Bithumb saw a MAJOR hack, last time it’s hacked with a loss over $30m.. lol and after the first hack it was STILL able to get the fiat license from Korea and WTF??”

As more news filtered through it was revealed that the EOS was on the move via the non-custodial, non-KYC exchange ChangeNow. Dovey Wan posted this screenshot of substantial sums of EOS passing through ChangeNow’s transaction logs.

HomeBitcoin ExchangeBithumb Hacked Again: $13 Million in EOS, 20 Million XRP On the Move
Bithumb, cryptocurrencyBithumb, one of South Korea's largest crypto exchanges, has been hacked again. | Source: ShutterstockBithumb Hacked Again: $13 Million in EOS, 20 Million XRP On the Move Greg Thomson 30/03/2019 Bitcoin Exchange, Crypto, News
Bithumb was hacked for the second time in less than a year as attackers managed to steal 3 million EOS coins and 20 million XRP. The subsequent laundering of the $21 million dollar haul was then tracked in real time by a twitter analyst, as the hacker swapped the tainted coins for other cryptocurrencies on non-KYC exchanges.

BITHUMB HACKED AGAIN: 3 MILLION EOS GONE!
The news broke late on Saturday morning (UST) as crypto entrepreneur and analyst Dovey Wan relayed reports apparently coming from a security firm who were auditing for Bithumb.

The attack was at first feared to have struck the cryptocurrency’s exchange’s cold wallet. However it was later confirmed that it was an online ‘hot wallet’ that had been hacked. As Wan stated, this is the second time in less than a year that Bithumb has fallen prey to the same trap:

“And this is the second time Bithumb saw a MAJOR hack, last time it’s hacked with a loss over $30m.. lol and after the first hack it was STILL able to get the fiat license from Korea and WTF??”

As more news filtered through it was revealed that the EOS was on the move via the non-custodial, non-KYC exchange ChangeNow. Dovey Wan posted this screenshot of substantial sums of EOS passing through ChangeNow’s transaction logs.

IT GETS WORSE: 20 MILLION XRP HACKED
It was then revealed that XRP had also been stolen in the attack, with 20 million coins leaving the hot wallet along with the EOS. The stolen XRP funds equated to around $6 million. Wan tweeted the XRP address on the hot wallet that had been hit:

“XRP hacked wallet address – rLaHMvsPnPbiNQSjAgY8Tf8953jxQo4vnu stolen 20,000,000 xrp (worth $6,000,00)”

By this point Bithumb had started to move all the remaining funds from the hot wallet into the cold wallet. The stolen coins meanwhile were being laundered through an intricate web of back-and-forth transactions between multiple exchanges and addresses, as seen below.


The EOS attacker’s address can be found here (note the number of inbound transactions from people begging for money). By a few hours after the attack, the stolen coins had been tracked as far as the following exchanges.

BITHUMB APOLOGIZES, SUGGESTS AN ‘ACCIDENT INVOLVING INSIDERS’
The official Bithumb Twitter account sparked into action this morning to remind users that they’re funds were safe.

“We deeply apologize to our members for delaying the cryptocurrency deposit and withdrawal service, we would like to inform you of the circumstances of the grounds and confirm that your assets are safe.”

In the accompanying blog, the exchange operator appeared to confirm that the theft had involved people working at Bithumb. From the post:

“As a result of the internal inspection, it is judged that the incident is an ‘accident involving insiders’. Based on the facts, we are conducting intensive investigations with KISA, Cyber Police Agency and security companies.”

Bithumb says it ‘expects to recover’ the stolen funds, and that from now on it would be applying the same rigour to its internal security as it had its external:

“We constantly monitor and block external hacking. However, it was our fault that we only focused on defense of outside attack and lack of verification of internal staff.”

Source: https://www.ccn.com/newsflash-bithumb-h ... n-the-move
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Re: Cryptocurrency

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The police in Singapore has arrested two men for using multi-level marketing schemes to promote OneCoin – a scam cryptocurrency, founded in 2014 by Ruja Ignatova, also known as the Cryptoqueen.

The Singapore Police said in a statement that “The promotional tokens could be used to ‘mine’ for OneCoins. Participants who brought in new participants were also entitled to overriding commissions in contravention of the Multi-Level Marketing and Pyramid Selling Prohibition Act.”

Re: Cryptocurrency

114
mlawson71 wrote: Fri Apr 12, 2019 11:34 pm The police in Singapore has arrested two men for using multi-level marketing schemes to promote OneCoin – a scam cryptocurrency, founded in 2014 by Ruja Ignatova, also known as the Cryptoqueen.

The Singapore Police said in a statement that “The promotional tokens could be used to ‘mine’ for OneCoins. Participants who brought in new participants were also entitled to overriding commissions in contravention of the Multi-Level Marketing and Pyramid Selling Prohibition Act.”
ma gawd scam scam scam everywhere in this crypto industry......... thx mlawson for update
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Re: Cryptocurrency

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The USA is the country with the highest number of crypto account holders in the world, a recent report by the DataLight, an Estonian market research company, shows.

For a month Americans have visited crypto exchange websites just over 22 million times, followed by Japanese, who visited such sites 6,1 million times, South Koreans with 5,7 million visits and Brits with 3,9 million visits.

The rest of the countries filling the top 10 list are Russia with 3,2 million monthly visits, Brazil with 3,1 million visits, Germany with 2,5 million visits, followed by Vietnam and Turkey with roughly 2,5 million and 2,4 million visits respectively and Canada with slightly over 2 million visits.

Re: Cryptocurrency

117
As the 2020 US presidential elections are approaching, candidates are already striving for media attention. In an attempt to round up support among crypto enthusiasts, two Democratic presidential candidates stated that they accept cryptocurrency donations and support innovative blockchain-based technology in general.

“I believe blockchain needs to be a big part of our future. If I’m in the White House, oh boy are we going to have some fun in terms of the cryptocurrency community,” Democratic presidential contender Andrew Yang said at the Consensus 2019 conference in New York.

The other Democratic presidential candidate who supports cryptocurrencies, Eric Swallwell, called for expert oversight on Blockchain systems for interference or abuses.


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