Bitrue Security Incident: Compensation and Restoration Update

04/18/2023 00:33 • AI Insights • 136 views

On April 18th, it was reported that Bitrue, a digital asset trading platform, released a security incident update, stating that all users affected by the incident will receive full compensation and have partially completed the security check. Therefore, normal operation of all tokens except for QNT, MATIC, and HOT can be restored, and efforts will continue to be made to complete the security check as soon as possible.

Bitrue: All users affected by security incidents will receive full compensation

On April 18th, Bitrue, a digital asset trading platform, issued a security incident update concerning compromised user information. The platform declared that all affected users would receive full compensation and that normal operations would resume for all tokens except QNT, MATIC, and HOT.

Background Information

Bitrue is a cryptocurrency trading platform that operates globally. It was launched in July 2018, and its objective is to offer secure and convenient digital asset trading services. The platform is powered by blockchain technology, which enables users to store and trade cryptocurrencies with ease.
On March 30th, Bitrue detected unusual activity within its system, leading to a security check that revealed a hack attack resulting in the loss of user information. The hackers mainly targeted users’ API keys and two-factor authentication codes, which enabled them to carry out unauthorized transactions.

Steps Taken

Bitrue revealed that it contacted its users by email and social media to alert them of the unauthorized transactions and the steps taken to mitigate the attack. The alert encouraged users to change their passwords, obtain new API keys, and enable two-factor authentication through either Google Authenticator or SMS verification.
After discovering the hack attack, Bitrue immediately suspended all transactions on its platform while commencing a security check of its systems. The platform asked its partners, including other exchanges and projects, to freeze the stolen assets while collaborating with law enforcement agencies to track and apprehend the attackers.

Compensation and Restoration

In the latest security incident update issued by Bitrue on April 18th, the platform confirmed that it would compensate all users affected by the attack fully. The compensation would include all the lost cryptocurrency, Bitrue’s native token, and interest.

Bitrue revealed that it had partially completed the security check, enabling it to restore normal operations of all tokens except for QNT, MATIC, and HOT. The platform clarified that it continued to enforce security measures and that it was only restoring operations for tokens that passed rigorous security checks.

Conclusion

Bitrue’s security incident highlights the vulnerability of digital asset trading platforms to hackers. However, the platform’s quick response and transparency in alerting its users of the attack demonstrate its commitment to safeguarding user information. Bitrue’s actions exemplify the need for robust security measures and the importance of keeping users’ assets safe.

FAQs

Q: How did the hackers gain unauthorized access to the users’ accounts?
A: The hackers breached the API keys and two-factor authentication codes, leading to the unauthorized transactions.
Q: Will Bitrue compensate users for their lost cryptocurrency?
A: Yes, Bitrue has promised to compensate fully all users affected by the attack.
Q: Which tokens are still not operational?
A: The tokens that are not operational include QNT, MATIC, and HOT.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/04/18/bitrue-security-incident-compensation-and-restoration-update/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.