• Latest
Draper-Backed Exchange in Lockdown Following ‘Sophisticated’ Attack

Draper-Backed Exchange in Lockdown Following ‘Sophisticated’ Attack

February 27, 2020
Bitcoin Turns Beautiful Over $50K, Why BTC Extend Its Rally

Bitcoin Turns Beautiful Over $50K, Why BTC Extend Its Rally

March 8, 2021
How to Evaluate Your Investing and Financial investment Good results

How to Evaluate Your Investing and Financial investment Good results

March 7, 2021
Why Bitcoin Price tag Could Start Strong Boost Over $50K

Why Bitcoin Price tag Could Start Strong Boost Over $50K

March 7, 2021
Ethereum Climbs previously mentioned $1,600, Why ETH Could Quickly Check $1,720

Ethereum Climbs previously mentioned $1,600, Why ETH Could Quickly Check $1,720

March 7, 2021
Bitcoin nerves, Tesla told to dump crypto, NFT madness

Bitcoin nerves, Tesla told to dump crypto, NFT madness

March 6, 2021
Ripple Secures 15 New Contracts With Banking Institutions Regardless of Ongoing Lawsuit Battle

Ripple Secures 15 New Contracts With Banking Institutions Regardless of Ongoing Lawsuit Battle

March 6, 2021
Ethereum and Bitcoin Search “Bullish” Right after Withstanding “Macro Beating”

Ethereum and Bitcoin Search “Bullish” Right after Withstanding “Macro Beating”

March 6, 2021
Bitcoin Loses Bear Market Trendline Against Altcoins

Bitcoin Loses Bear Market Trendline Against Altcoins

March 5, 2021
How Paradox Group Is Assisting DeFi

How Paradox Group Is Assisting DeFi

March 5, 2021
What does the frog meme? – Cointelegraph Magazine

What does the frog meme? – Cointelegraph Magazine

March 5, 2021
Aim Remains on Greenback and Yields

Aim Remains on Greenback and Yields

March 5, 2021
Cryptocurrency exchange Bybit shuts up shop in British isles in compliance with FCA ban

Cryptocurrency exchange Bybit shuts up shop in British isles in compliance with FCA ban

March 5, 2021
  • Home
  • Coin Market Cap
  • ICO Live
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • ICO
  • Business
CoinNewsDaily
  • Home
  • Coin Market Cap
  • ICO Live
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • ICO
  • Business
No Result
View All Result
  • Home
  • Coin Market Cap
  • ICO Live
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • ICO
  • Business
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Ethereum

Draper-Backed Exchange in Lockdown Following ‘Sophisticated’ Attack

coinnewsdaily by coinnewsdaily
February 27, 2020
in Ethereum
0
Draper-Backed Exchange in Lockdown Following ‘Sophisticated’ Attack
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin Brokerage River Financial Raises $17M: SEC Filings

Bitcoin Brokerage River Financial Raises $17M: SEC Filings

February 19, 2021
Bitcoin Is Now a Trillion-Dollar Asset: Now What?

Bitcoin Is Now a Trillion-Dollar Asset: Now What?

February 19, 2021

Coinhako, a cryptocurrency exchange backed by Tim Draper, has restricted user withdrawals after falling victim to a “sophisticated attack.”

The Singapore-based exchange told users Friday that account send functions for cryptocurrencies had been temporarily disabled. Although a spokesperson initially said this was for “network maintenance”, the exchange admitted Saturday it had been victim to an attack and that it would impose account restrictions to prevent “unauthorized transactions,” until the matter had been fully resolved.

The exchange has not provided further details on the attack’s nature, or any information on whether assets were stolen.

“We have detected a sophisticated and coordinated attack on specific Coinhako accounts, and have disabled the send function as a preventive measure,” a spokesperson said on the exchange’s Telegram channel.

Fewer than 20 Coinhako users are believed to have been directly affected by the attack.

Coinhako’s spokesperson said the attack was not a wallet hack and that user private keys had not been affected.

Launched in 2014, Coinhako is a popular gateway into cryptocurrencies for Singapore traders through its Singapore dollar trading pairs. The exchange launched an OTC desk in October 2019.

Speaking to CoinDesk, Coinhako CEO Yusho Liu said users’ send function would remain restricted as a “key countermeasure against unauthorized transaction outflows.” The exchange has also reset passwords and two-factor authentication for all users.

Cryptocurrency deposits, trading services, and fiat currency withdrawals were still fully functional. Users that had been affected by the attack have also been fully reimbursed, Liu confirmed. The exchange did not respond to questions about the attack’s nature.

Coinhako recieved a six-figure personal investment in December 2014 from venture capitalist Tim Draper soon after coming out of Boost VC, the accelerator run by son Adam Draper.

CoinDesk approached Tim Draper for comment, but he had not responded by press time.

Coinhako is scheduled to resume full operational capacity on March 1.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Share76Tweet47
Previous Post

Class-Action Lawsuit Can Proceed Against Ripple Will Proceed

Next Post

Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Bitcoin Brokerage River Financial Raises $17M: SEC Filings
Ethereum

Bitcoin Brokerage River Financial Raises $17M: SEC Filings

February 19, 2021
Bitcoin Is Now a Trillion-Dollar Asset: Now What?
Ethereum

Bitcoin Is Now a Trillion-Dollar Asset: Now What?

February 19, 2021
BitPay to Pay $500K to Settle OFAC Sanction Violation Charges
Ethereum

BitPay to Pay $500K to Settle OFAC Sanction Violation Charges

February 18, 2021
Libra Co-Creator’s VC Firm Co-Leads $12M Round in ‘Decentralized GitHub’
Ethereum

Libra Co-Creator’s VC Firm Co-Leads $12M Round in ‘Decentralized GitHub’

February 18, 2021
Who ISN’T Dabbling as Bitcoin Passes $52K, Ether Tops $1,900
Ethereum

Who ISN’T Dabbling as Bitcoin Passes $52K, Ether Tops $1,900

February 18, 2021
‘Evil VASP’ Simulation Preps Crypto Exchanges for FATF Travel Rule
Ethereum

‘Evil VASP’ Simulation Preps Crypto Exchanges for FATF Travel Rule

February 18, 2021
Load More
Next Post
Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear

Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • Ripple
  • Tech
  • Trading

What New here?

  • Bitcoin Turns Beautiful Over $50K, Why BTC Extend Its Rally
  • How to Evaluate Your Investing and Financial investment Good results
  • Why Bitcoin Price tag Could Start Strong Boost Over $50K

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2020 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • ICO Live
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • ICO
  • Business

© 2018-2020 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$50,595.00
  • ethereumEthereum(ETH)$1,740.04
  • cardanoCardano(ADA)$1.15
  • tetherTether(USDT)$1.01
  • rippleXRP(XRP)$0.467236
  • litecoinLitecoin(LTC)$189.66
  • bitcoin-cashBitcoin Cash(BCH)$518.93
  • stellarStellar(XLM)$0.413764
  • dogecoinDogecoin(DOGE)$0.057970
  • nemNEM(XEM)$0.70
  • vechainVeChain(VET)$0.058247
  • moneroMonero(XMR)$208.51
  • tronTRON(TRX)$0.051511
  • eosEOS(EOS)$3.87
  • iotaIOTA(MIOTA)$1.32
  • neoNEO(NEO)$39.26
  • dashDash(DASH)$216.06
  • zcashZcash(ZEC)$130.23
  • zilliqaZilliqa(ZIL)$0.118127
  • ethereum-classicEthereum Classic(ETC)$11.64
  • iconICON(ICX)$1.88
  • wavesWaves(WAVES)$10.04
  • ontologyOntology(ONT)$1.04
  • iostokenIOST(IOST)$0.045037
  • omisegoOMG Network(OMG)$5.10
  • loopringLoopring(LRC)$0.57
  • nanoNano(NANO)$5.18
  • qtumQtum(QTUM)$6.25
  • siacoinSiacoin(SC)$0.011293
  • bitcoin-goldBitcoin Gold(BTG)$29.02
  • liskLisk(LSK)$3.19
  • vergeVerge(XVG)$0.022218
  • statusStatus(SNT)$0.088022
  • bitcoin-diamondBitcoin Diamond(BCD)$1.06
  • steemSteem(STEEM)$0.452097
  • stratisStratis(STRAX)$1.53
  • bitsharesBitShares(BTS)$0.055856
  • bytomBytom(BTM)$0.085991
  • wanchainWanchain(WAN)$0.86
  • populousPopulous(PPT)$2.86
  • aionAion(AION)$0.194110
  • aeternityAeternity(AE)$0.254755
  • hshareHyperCash(HC)$0.65