Home Crypto exchange LocalBitcoins Resumes Outgoing Transactions After Warnings of Phishing Link on Forum

LocalBitcoins Resumes Outgoing Transactions After Warnings of Phishing Link on Forum

A link to a phishing LocalBitcoins clone website had been placed on the official LocalBitcoins forum, but the attack has since been stopped. A LocalBitcoins community manager warned of the attack on Reddit on Jan. 26.

According to the post, an unidentified hacker or hacker group detected a security vulnerability in the LocalBitcoins forum and linked it to a phishing forum. Even before the official communication, a Reddit user warned in a post on the Bitcoin (BTC) subreddit:

“When visiting the localbitcoins forum […] users are prompted to log into their account, as if they have been logged out. This only seems to happen if you are already logged in. This is is [SIC] a PHISHING SITE and 2FA codes are being used to empty customer accounts. Withdrawals have since been suspended by LocalBitcoins.”

The alleged address of the hacker (or hackers) — identified in the comments by a user who claims to have been hacked — has received a total of 7.95205862 BTC in five different transactions, which is equivalent to about $28,134 at press time. The user also urges:

“Please get the address 13WaahhsiGph4ysmQtjVhVTdgQUSL62KJr blacklisted on exchanges.”

In the Reddit post published by the community manager, LocalBitcoins claims that the identified vulnerability was contained in third-party software, and confirmed six known cases of users being affected.

The company also reportedly stopped the attack and re-enabled outgoing transactions (which were temporarily disabled). Still, the post notes that the forum feature is still disabled until further notice.

As Cointelegraph recently reported, following international police collaboration, a 36-year-old individual suspected of the theft of over $11 million in IOTA through another phishing scam was arrested.

Also, news broke earlier this month that Indian police have arrested an associate of a group accused of conducting a crypto scam involving 5 billion rupees (about $70.5 million).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Ethereum’s Long Term Chart Is Extremely Simple To Read

The weekly Ethereum chart, as opposed to the daily chart, is simple and concise. There are 2 simple...

US Department of Transportation Says Blockchain Has Many Applications For Unmanned Aircraft Systems (Drones)

Blockchain technology could assist with adjusting and improving current technical challenges in the expanding business of commercial drone delivery, said the US...

Security tokens, blockchain settlement draw interest from institutions: MIT Bitcoin Expo panel

Amid growing competition between providers, institutions in the traditional finance space are looking at blockchain as another way to offer value to...

Networking 2.0 at Blockchain Life 2020

Make hundreds of connections at Blockchain Life 2020 The 5th Blockchain Life 2020 returns to Moscow on April 22-23 at the unique media...

Irish drug dealer loses $57M bitcoin fortune after losing access codes

Irish Bitcoin drug dealer Clifton Collins, who has forfeited digital assets worth $57 million, has continued his trial...