Cybersecurity Breach at iToken (Formerly Huobi Wallet): Former Employee Suspected in Trojan Virus Attack

Cybersecurity Breach at iToken (Formerly Huobi Wallet): Former Employee Suspected in Trojan Virus Attack

Crypto News – Recent reports from Wu Blockchain reveal a cybersecurity breach involving iToken, formerly recognized as Huobi Wallet. The breach, suspected to be orchestrated by a former Huobi employee, was facilitated through a Trojan virus.

The breach resulted in the exposure of user mnemonics and private keys. Law enforcement agencies have initiated an investigation to ascertain the involvement of the ex-employee.

The aftermath of this breach was evident when a hacker’s address connected to a compromised user account experienced a significant loss of $1.39 million on September 2nd. Consequently, the iToken system issued warnings to users regarding potential security risks associated with specific wallet addresses.

In an effort to secure user assets, a security agency collaborated with Refundyourcoins to successfully transfer the compromised funds to a secure address. Refundyourcoins is now preparing to launch a retrieval function, aiding affected users in recovering their assets. This service will cover four major blockchain networks: BTC, ETH, TRX, and XRP.

This incident harkens back to a previous data breach that targeted the crypto exchange in June 2021, exposing user assets and critical technical information. As part of a recent update, Huobi rebranded itself as HTX, while retaining the Huobi name for its official website. This rebranding initiative seeks to rejuvenate the exchange’s identity while maintaining familiarity for its user base.

The rise of Trojan viruses, camouflaged as legitimate software, continues to present a severe threat to cybersecurity. These variants of malware strive to gain unauthorized access to users’ systems through social engineering tactics, underscoring the crucial need for robust security measures within the cryptocurrency sphere.