News Hackers are targeting BitMEX customers with increased fervor

Hackers are targeting BitMEX customers with increased fervor

-

- Advertisment -

If you have any funds left on BitMEX, you might want to take note.

The BitMEX security team made a statement warning users that the exchange is suffering from a higher than usual number of cyberattacks, with each one more sophisticated and dastardly than the last. The crypto derivatives trading platform encouraged users to beef up security on their accounts—lest they like losing all their money to hackers.

“More recently, we have witnessed an increased number of attempts to compromise or obtain unauthorised access to customer accounts,” the statement said, adding, “Enabling 2FA on your account is the best and easiest way to protect yourself from these attacks.”

Hackers are using phishing sites and malware to ensare hapless BitMEX users into giving up their login details. While this is fairly common across exchanges, the security team said the attackers have been even more cunning in their attempts to avoid detection. For example, instead of trying to withdraw the funds straight out of hacked users’ wallets, they have been selling their funds at a discount to other accounts they control.

The security team said they have managed to identify some of these accounts to prevent further attacks, but the team are finding it difficult to identify all the phony accounts.

The statement also highlighted that attackers have been disabling email login notifications once they’ve compromised an account. This means they are able to access the account without the user realising that something is amiss–typically, users would be notified that someone is logging in from a computer or location they don’t recognize.

And so, BitMEX, somewhat helplessly reiterates that users should enable 2FA authentication. Our two cents? Avoid the text messaging option at all costs.

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Bitcoin Security Lessons from The KuCoin Cryptocurrency Exchange Hack

It is a recent but not new happening that a hot wallet from a crypto agency has...

Facebook’s long-awaited Libra is Coming in January 2021

In a more limited form, the Libra Association's projects are being implemented. It will only launch a...

Polkadex Enhances the Cryptocurrency Trading Experience

The global economy has not entered the modern era as of yet. Luckily, there are tools to...

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether is one of the oldest altcoins and probably the most...
- Advertisement -

Banking Sector is Ready for a Tech Revolution With Cryptocurrency

When our world is going through a massive change due to COVID-19blow, it is very likely that...

OpenDAO’s Bridge Opens New Possibility for Mass Adoption of DeFi

When Satoshi Nakamoto officially created Bitcoin on January 3, 2009, his vision for the digital asset was...

Must read

- Advertisement -

Read Next
Recommended to you