Cryptocurrency exchanges have shielded users …

Cryptocurrency exchanges have shielded users …

Cryptocurrency exchanges have protected users from sending $ 300,000 to Twitter hackers

The hackers who launched the Twitter attack last week used the incredible resources they had at their disposal to steal about $ 100,000 in Bitcoin. However, the damage from this attack could have been significantly higher, writes Forbes..

Only a few hours after the first signs of interference appeared, Twitter took effective measures to limit it. Exchanges reacted faster and prevented their users from losing at least $ 300,000.

For example, Coinbase blacklisted the addresses of the attackers, because of which over 1,100 of its clients were unable to send transactions totaling 30.4 BTC, or about $ 280,000. Only 14 Coinbase users managed to transfer money to scammers and lost $ 3,000.

“We noticed this within about a minute after the tweets appeared on the Gemini and Binance accounts. An extremely small group of Coinbase customers tried to send money to the address of the scammers, ”said Philip Martin, Coinbase Chief Information Officer. He noted that his company often blocks addresses associated with fraudulent distributions of cryptocurrency..

Gemini, Kraken and Binance have also confirmed that they have thwarted attempts by their users to share cryptocurrency with scammers. At the same time, even the combined clients of these exchanges did not try to send as much as Coinbase users.

Cryptocurrency exchanges have shielded users ...

“This hack demonstrates that security depends on layers of protection,” said Kraken CEO Jesse Powell. – Someone needs to monitor administrators and set alerts for such vulnerabilities. Twitter hacking has become more widespread, but this scam is nothing new. Kraken proactively monitors this activity and blocks certain addresses if we see them. As with any scam, we had the foresight to block URLs during the Twitter hack. “.

Martin commented on statements that by blocking the addresses of fraudsters, exchanges thereby violate the values ​​of the cryptocurrency community. “We would like to highlight the following principle: reduce harm without diminishing the underlying value of the asset,” he said, adding that Coinbase users are grateful for helping them avoid losses whenever possible..

Cryptocurrency exchanges have shielded users ...
Cryptocurrency exchanges have shielded users ...

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