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Ex-staffer steals user data in a severe Digitex hack

TL;DR

Today, Digitex hack has taken the crypto realm by surprise in a month that has seen significant data breaches. After bZx attacks and Coinbase hacking, now crypto derivatives exchange Digitex has taken a hit where an ex-employee is being probed for stealing user data.

Personal data of around 8,000 users are believed to have been exposed to a significant data breach. Christina Comben of Digitex said that a former staffer is under lens for his alleged involvement in the attack. However, she said that the exchange suffered internal sabotage and not an external attack on its security apparatus. The ex-staffer reportedly had a conflict of interest with Digitex.

Digitex hack episode ends February on a bad note

The crypto industry underwent a serious reputation crisis in February. Reports of serious hacking and data breaches meant that trust in DeFi and crypto now stands shaken. The company has shared no detail about the employee involved in the Digitex hack. The data breach happened on or before the 7th February.

Digitex is a decentralized crypto derivatives exchange based in Dublin. The exchange caters to retail traders and investors, offering peer-to-peer trading solutions. Its primary products include futures contracts and perpetual swaps, where up to 100x leverage is offered to the traders along with a margin trading facility.

Digitex hack was contained promptly by the exchange

Digitex hack was reported and explained in a detailed blog post by the exchange itself. It states that a manipulative ex-staffer took control of the Facebook account of Digitex. He then blatantly posted personal user information stored with the exchange on the social media channel. The post containing the user email addresses and went unnoticed for some time. Once detected, it was reported to the authorities. However, slow response from Facebook caused delays, and the crisis took some time to contain.

Digitex chief executive officer, Adam Todd, acknowledged that Digitex hack happened and it was the work of an insider. He referred to the person as a ‘pathetic little irrelevance.’ The exchange is presently pursuing legal aid in response to the attack.

Featured Image by Pixabay

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Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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