Thursday, December 07, 2017

Hack Attacks on Bitcoin-Traded Platforms on the Rise

As Bitcoin surges to an all time high of US$16,000, the number of hack attacks being experienced by platforms causes uncertainty among users.

Nicehash hacked
For instance, popular Bitcoin mining community - Nicehash became a subject of a hack attack. The site is now on hold and the platform is asking users to change their passwords.

Hexabot BTC glitch
Last December 5, popular lending platform Hexabot experienced a BTC glitch where users suddenly have 11 BTC in their accounts. New user registrants find themselves having withdrawable balances. The said issue reminded me of what happened to Exodus Wallet two months ago where some users find themselves having 18 BTCs in their account although not necessarily usable.

These attacks causes these sites to go down while doing the necessary damage repair. Especially with many users trying to withdraw the bitcoins received in their account. And if the damage is irreparable, it can result to permanent shutdown.

These attacks serve as an important reminder to cryptocurrency owners to take care of their digital assets. Use the necessary security layers to protect your accounts.