Steemit Suffered Minor Cyber Attack, Bittrex Suspended Steem Transactions
- Hacking attacks on cryptocurrency related ventures don't seem to ever slow down.
Hackers have been targeting the cryptocurrency sector for years now and after the DAO fiasco they seem to be getting greedier and more capable - exposing weaknesses in new systems as soon as they become popular.
Steemit, the decentralized social media platform rewarding users for their work with cryptocurrency, has become the latest project to have fallen victim to a cyber attack according to its CEO Ned Scott.
Luckily the hack has been contained very quickly this time, with fewer than 260 accounts compromised, and less than $85,000 worth of Steem possibly stolen. Furthermore Scott announced that users whose accounts were compromised will be completely reimbursed.
Steemit CEO, Ned Scott
They have reported the hack to police and other cyber crime authorities, including the FBI. Additionally, a full, internal investigation is currently being conducted and the Bittrex Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term is actively helping the investigation.
As a precaution, Bittrex has temporarily suspended the ability to deposit or withdrawal Steem and Steem Dollars from their exchange. The Bittrex team is said to be completing the analysis of Steemit's wallet and once it has passed their compliance checks, they will reopen the wallet for deposits and withdrawals.
Just a few days ago the total market capitalization of Steem surged from $13 million to a height of $260 million, shooting past Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term and Litecoin to become the 3rd most valuable cryptocurrency.
Hackers have been targeting the cryptocurrency sector for years now and after the DAO fiasco they seem to be getting greedier and more capable - exposing weaknesses in new systems as soon as they become popular.
Steemit, the decentralized social media platform rewarding users for their work with cryptocurrency, has become the latest project to have fallen victim to a cyber attack according to its CEO Ned Scott.
Luckily the hack has been contained very quickly this time, with fewer than 260 accounts compromised, and less than $85,000 worth of Steem possibly stolen. Furthermore Scott announced that users whose accounts were compromised will be completely reimbursed.
Steemit CEO, Ned Scott
They have reported the hack to police and other cyber crime authorities, including the FBI. Additionally, a full, internal investigation is currently being conducted and the Bittrex Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term is actively helping the investigation.
As a precaution, Bittrex has temporarily suspended the ability to deposit or withdrawal Steem and Steem Dollars from their exchange. The Bittrex team is said to be completing the analysis of Steemit's wallet and once it has passed their compliance checks, they will reopen the wallet for deposits and withdrawals.
Just a few days ago the total market capitalization of Steem surged from $13 million to a height of $260 million, shooting past Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term and Litecoin to become the 3rd most valuable cryptocurrency.