Hackers are targeting BitMEX customers with increased fervor

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.

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