Singapore’s Fiat-crypto Platform Coinhako Restricts Withdrawals After Invasion
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Singapore’s Fiat-crypto Platform Coinhako Restricts Withdrawals After Invasion

February 28, 2020      Javeria

Coinhako has reset passwords and two-step verification of all of its accounts although the withdrawal of funds is still not allowed for its users.

Coinhako is Asia’s one of the largest cryptocurrency exchanges that have been hacked this week. After the hack, the exchange has temporarily frozen withdrawals of funds for its users. According to the reports, Coinhako, the Singapore based fiat-crypto platform was attacked on 21st February which was described as a sophisticated attack by the company.

Just before announcing about the hack, Coinhako informed the audience about the pause in functions due to unplanned maintenance.

Yusho Liu, the CEO of Coinhako, reported that it has already reset passwords as well as two-factor authentication for its users. However, to counteract any unauthorized outflows of transactions, the withdrawals are still restricted.

According to a spokesman of Coinhako, the exchange has detected a coordinated attack on some of its accounts and hence disabled the send function as a countermeasure.

Only 20 Coinhako Users Affected From The Hack

The exchange further confirmed that the user’s funds are entirely safe, and the attack only affected 20 trading operation and Coinhako users. Then after some days of the attack, Coinhako assured the affected customers to get paid from the exchange.

Some traders even responded to the official tweet regarding the hack and the funds lost in the attack. The exchange reassured the clients who were worried about their deposits.

Coinhako is Asia’s oldest cryptocurrency exchanges which mainly deals in countries like Malaysia, Singapore, Vietnam and Indonesia. The platform supports up to 100 fiat-crypto pairing and more than 25 cryptocurrencies and allows its users to do multiple transactions that vary from crypto to crypto exchange, FX exchanges and even moving tokens to different platforms.

READ  BUY THE DIP! Bitcoin PRICE Dives, Altcoins Rise! Where is BTC Price Going Next?
#Asia’s largest cryptoc exchange #CBDC #Coinhako #Crypto cyberattack #Crypto News #Crypto to crypto exchange #Cryptocurrencies #Cryptocurrency News #FX exchanges #Multiple transactions #Price Analysis
Javeria
Javeria

Javeria is into the crypto world ever since she heard about it and is pursuing her interest through cryptoknowmics. She is a sensational poet, technical writer and content strategist. Not to mention that she can go crazy when it comes to vampires and Wonder woman.