More than $ 3 million worth of homes were stolen from a private antiquarian in the nation of Taiwan, suggesting that even decentralized finance is vulnerable to illicit transactions by those who steal and commit dirty deeds to earn money.
Investor Loses Over $ 3 Million Against Tether The victim in question is a man named Liu Kun-Hung. He has a lot of cryptocurrencies in various online wallets. Two contained more than $ 3 million in loin, a popular stablecoin said to be backed by the US dollar.
However, it appears that the money disappeared from the thieves’ hands practically overnight, marking the latest onslaught of a serious streak in the past month. The money was divided between two digital accounts hosted in the United States. Everything seemed to be going well when Liu noticed in early July that three transactions were taking place. He had transferred money from his accounts to an “unknown cloud wallet” called by the police.
He knew something was wrong because he had not authorized the transaction and was not involved in transferring the money. Liu decided to change the passwords on his account several times, but that didn’t stop hackers from being able to access them.
He then reported the problem to the police, although by then much of the money had been deposited into various cloud accounts that Liu did not own. At this point, up to $ 500,000 of the digital money had been used in Liu’s account. In an interview he says: They (hackers) can steal our personal information from anywhere: from employees, from communication applications we use, or even from the platform on which the account was opened in Taiwan.
Liu was also able to contact several Tether representatives and have their accounts frozen, which helped prevent cyber thieves from stealing the remaining money. According to the Taiwan Criminal Investigation Service, the hacker’s diary address has already been reported. They say the address is tied to a cloud service provider, which is how the money moved.
Cell phone led to login information According to police, the hacker is believed to have been able to infiltrate Liu’s account and Tether’s hideout by sneaking into his home phone, as well as the phones of several of his employees, and obtaining information there. . Liu says: I will not be the last victim.
By using the most advanced technologies, the digital currency is known to be tough and powerful in protecting vital information; security is one of the main reasons we invest in it. But apparently that’s not the case here. So far I have been very disappointed and frustrated and urge Tether and its affiliated operators to protect others, especially foreign investors like me.