By Ifaenyi Egede (Nigeria)
Most crypto outfits have stated that they have been experiencing severe troubles since the beginning of May. BlockFi released a statement saying that its database has been hacked while the BitMEX trading engine had serious problems today. BlockFi stated explicitly that the hackers tried to withdraw clients’ funds without their consent, but were only able to get their customers personal data.
BlockFi exchange platform hacked.
“From approximately 07:17 UTC to 08:43 UTC on May 14, 2020, a BlockFi employee’s phone number was breached and utilized by an unauthorized third party to access a portion of BlockFi’s encrypted back-office system,” the statement said. The outfit further said that investors or the company’s assets are still safe, but they will subject their customers to routine security checks if they want to make a withdrawal to check fraud.
They said they believe the hackers are still lingering around, and it would take time before they finally get rid of the hackers. BlockFi also urged their client base to complete their KYC and enable two-factor authentications so they could withdraw their funds without problems. Furthermore, the firm asked them to turn on whitelisting on their mobile devices and BlockFi accounts.
Also read:In the report that the company filled and submitted, the company said they would look to make their actions transparent and provide them with communication every time there is a need. @matt_odell was quoted on Twitter asking how true the development is when it is said, “I wanted to link directly to @TheRealBlockFi’s blog post disclosure of this very disturbing compromise, but there isn’t one. Instead, they posted a hand-waving post about 2FA and whitelisting addresses”, he further said.
BitMEX suffers platform crash.
Meanwhile, crypto exchange outfit, BitMEX servers, went offline at 13:29 UTC, and engineers are working tirelessly to bring the platforms back online. The exchange said the platform will only be available via cancel only mode until 13:40 UTC and clients will not be able to place any orders till when the platform comes online. “All funds are safe, and withdrawals will be delayed until after the outage has been resolved, likely 15:00 UTC. No liquidations have occurred during the downtime,” BitMEX said.
“The BitMEX Trading Engine is currently down. We’re working to bring it back online as soon as possible—further updates to follow shortly. For official updates, please follow https://status.bitmex.com,” the company further stated. Coinbase, too, was not left out after their platform suffered a crash on May 9.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.