Friday, October 23, 01:23
Home security Bithumb was found co-responsible for a 2017 hacking incident

Bithumb was found co-responsible for a 2017 hacking incident

According to Seoul Central District Court, two clients were seeking $ 126.000 and $ 38.000 respectively for financial damages related to a data breach in 2017, in platform cryptocurrency exchange Bithumb. The judge ruled that the allegations were completely unfounded.

Bithumb

According to Fn News, plaintiffs Hong and Seo stated that they had lost money due to an attack Phishing, used privately data which were stolen through Bithumb. The third plaintiff, named Jang, received $ 5.000 to cover his total loss of money. This amount reflects a much lower value than his original claim which was $ 27.200.

In all three cases, the court said the cryptocurrency exchange platform could have provided more resources for the security of its customers to prevent such data breaches.

The judge, however, found that in addition to Bithumb, Jang was also partly responsible, noting that the victim provided details that were not initially included in the data that had been intercepted by the platform.

In order for the attack to be successful, the criminal impersonated a Bithumb customer center agent, providing Jang with information he believed only a Bithumb employee would know.

Then the hacker informed Jang that he had detected a suspicious login attempt on his account and needed a verification code sent to his phone number to prevent it. Once accessed, the hacker converted Jang's XRP and ETH into fiat.

The court ruling came shortly after South Korean police raided Bithumb's office on September 2.

The investigation was conducted by the information crime unit of the Seoul Metropolitan Police Service. He was allegedly involved in an ongoing police investigation involving Lee Jung Hoon, chairman of the board of Bithumb Korea and Bithumb Holdings.

LEAVE ANSWER

Please enter your comment!
Please enter your name here

Absent Mia
Absent Miahttps://www.secnews.gr
Being your self, in a world that constantly tries to change you, is your greatest achievement

LIVE NEWS

How to remove Edge tabs from Alt + Tab in Windows 10

Starting with the October 2020 update, Windows 10 now displays Microsoft Edge browser tabs in the Alt + Tab task ...

Patient information is held for ransom by hackers

A company offering psychological support and psychotherapy services to thousands of patients in Finland has fallen victim to hackers. As the company stated, ...

ESafety believes that social media authentication would not be practical

Australian eSafety Commissioner Julie Inman-Grant has dismissed the practice of verifying users' identities on social media.

First beta version of the "1Password" application for Linux

One and a half months after the first rumors about the release of the 1Password application for the Linux desktop, the co-founder of Dave Teare announced now ...

The price of Bitcoin skyrockets after PayPal adds cryptocurrency

The price of Bitcoin reached a very high record on Wednesday, after the announcement of PayPal for the integration of cryptocurrency in the online ...

Dr Reddy is closing its laboratories worldwide following a data breach

The pharmaceutical company Dr Reddy 's Laboratories (DRL) was forced to close its laboratories worldwide, after a data breach that ...

PayPal lets users use cryptocurrency

PayPal on Wednesday announced a new feature that will allow users to buy, store and sell cryptocurrency.

Activists are developing face recognition technology to reveal the identities of police officers

In early September, Portland, Oregon City Council held a virtual meeting to consider legislation that ...

Tesla share rises almost 5%

Tesla's Elon Musk released the results for the third quarter of 2020 on Wednesday. The share rose almost 5% on ...

Account Takeover Attacks: How to Avoid Them?

Account Takeover (ATO) attacks are a form of theft, often used by criminals. The attackers are trying to break into accounts ...