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Bithumb, notable for being one of the largest cryptocurrency exchanges in the world, was severely compromised on . The South Korean-based platform is also known as a leading exchange for ether, the (which in itself is immensely ). Local media reported that , and the personal information of was stolen, including cellphone numbers and email. The company sent a on June 30 informing their users of the data theft.

say that the scammers actually contacted individual Bithumb users and used voice phishing to gain access to their funds. Although there is no official tally, South Korean users are independently reporting massive losses on . Bithumb has already that it plans to partially compensate users, promising to give up to 100,000 won per person.

Currently the incident is being investigated by the as well as the cyber investigation divisions of the police department and prosecutor’s office.

This is the second Ethereum-related hack to happen recently. We previously posted about Classic Ether Wallet, a service for Classic Ethereum (ETC) users, which was also compromised within the same week, through social engineering.

Best practices: Protecting online and cryptocurrency accounts

With the rising number of cryptocurrency hacking incidents, users should be proactive about protecting their funds as well as any online accounts. Enterprises should also be wary about data storage, and implement proper security policies for employee devices:

• Enable 2FA on all your online accounts.
• Try to be familiar with social engineering tactics. For offline scams done though calls, always compare the communication received with typical behavior, past experiences and industry standards before giving away valuable information or access.
• For online social engineering scams, which are most commonly received through email, there are many ways to identify and mitigate these attacks.
• Be wary of trusting cryptocurrency with a third-party. Using is advisable—it is basically storing cryptocurrency offline in encrypted media, hard drive or USB drive, hardware wallet, paper wallet, or other such devices.
• Also, employers should also implement strict BYOD policies to protect their own network and data.
• And any enterprise should try to secure third party services holding critical parts of their business. Consult with security experts to install countermeasures and monitoring processes so you can prevent or mitigate advanced threats.

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In addition to the best practices mentioned above, enterprises can look into solutions such as live casino online™ Security and live casino online Internet Security, which offer effective protection and can detect malware at the endpoint level. In addition, enterprises can monitor all ports and network protocols to detect advanced threats and protect from targeted attacks via live casino online™ Deep Discovery™ Inspector.