This Crypto Startup Hacks Its Own Users’ Wallets to Rescue $13 Million

Lai Tran June 7, 2019 0 Comments

By CCN: Better the thief you know than the one you don’t. Cryptocurrency platform Komodo has had to hack its users after discovering a serious security flaw in one of its wallets. According to a press statement by the blockchain startup, Komodo’s cybersecurity team was able to ‘sweep’ in and retrieve 8 million Komodo coins (KMD) and 96 Bitcoin before hackers got hold of the exposed loot. An estimated $13 million worth of cryptocurrency was saved in the process. A video on YouTube reveals how bad actors could have potentially gained access to Komodo users’ private keys: Funds are Safe

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Source: Bitcoin CNN