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MARCH 2019

Hacked Bithumb to deal with around 100 lawsuits

Hacked Bithumb to deal with around 100 lawsuits

On June 29, Bithumb – the largest cryptocurrency exchange in South Korea – was hacked. The loss is estimated to reach billions of won.

Villains stole personal data of about 31 800 users. Around 100 of them filed a complaint with the National Police Agency's cybercrime report center and intend to file a lawsuit against the exchange.

According to Bithumb, an employee’s PC was hacked: villains stole a part of customer database (telephone numbers, emails). The head office wasn’t attacked.

To get access to accounts, attackers used “voice phishing”: called clients, introduced themselves as Bithumb employees and asked for a one-time password. If the victim provided them with the information, they withdrew money from the account.

Hacked Bithumb to deal with around 100 lawsuits

Despite the fact that the exchange warns its clients not to give one-time passwords to anyone, Bithumb intends to pay compensations amounting to 100 000 won per person (around $870).

Approximately 100 clients attacked by hackers have announced their intention to file a lawsuit against Bithumb. It is difficult to make a prediction regarding results of legal proceedings. Unlike Japan, where bitcoins are legal since April 1, in South Korea their purchase and exchange aren’t regulated.

 

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