Blockchain

Crypto Exchange Leaks Customer Private Information Putting $620K at Risk

Crypto Exchange Leaks Customer Private Information Putting $620K at Risk

Usually, hackers try to find information about cryptocurrency exchanges and its users, but this time a cryptocurrency exchange has made their lives a whole lot easier. Bitkoex, a South Korean exchange has leaked information which has put into risk the users of the exchange.

The leaked information puts into risk 19 of Bitkoex’s users which as a result will put a tempting $620,000 on the line for hackers to target.

How did this negligence from Bitkoex take place? According to a report, an employee of Bitkoex posted information on how much Karma (KRM) cryptocurrency 19 users on the platform were holding. It also included email addresses, wallet addresses and the private keys to the KRM tokens. Thus anyone with the information will be able to access the assets.

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Bitkoex is a reasonably new exchange in South Korea, which was launched in May 2018.

Since the announcement, Bitkoex played it’s cards right by moving the exposed assets to a cold wallet which will not be accessible through the internet and so the company reported in losing none of the tokens.

With such details having to be kept safe and secure, you would think this was the first time it happened. However Bithumb, one of the largest South Korean exchanges already faced the same issue with 30,000 users details being publicized last year.

A report has confirmed that most of the 21 South Korean exchanges have security vulnerabilities. It is not surprising news given the number of hacks already taken place in the South Korean cryptocurrency exchanges.

Just last week Bithumb was hacked and faced a loss of $30 million. Bithumb is so popular that Bitcoin was reported to have faced a slump falling by nearly $200 due to the negativity of the hack.

Two weeks ago, another South Korean exchange called Coinrail was hacked. The Coinrail team tried to keep the situation calm by calling it a cyber intrusion. However, the public feared the worst already.

Image Source: “Flickr”

Ledger Nano S - The secure hardware wallet

Amrit Mirchandani,  A hustler, who believes there is a solution to every problem. A strong believer of Blockchain and a Cryptocurrency enthusiast!
Currently living in the Digital Hub of India, Pune and an extremely friendly and optimistic person. Born and raised in the beautiful island of Sri Lanka and have run businesses ranging from Agriculture to the Digital World. I have had crazy Experiences in Asian Busy towns like Mumbai and Kuala Lumpur to African nations such as Madagascar.