“Two weeks ago, our Utah-based programming team caught suspicious activity on our bitcoin network. After isolating the specific activity, we realized that our network was indeed exposed to an external hack” a source close to the company reported.
An internal security audit revealed that hackers exploited an open portal on an external vendor’s system. MeCoin notified the company of the open portal and the issue was immediately fixed. No other issues were found during the security audit and no additional suspicious activity has been reported since the initial incident.
“We caught it quickly and shut it down immediately”
Initial financial audits revealed that the hackers were able to extract an undisclosed amount of bitcoin before the flaw was patched. The company is completing its final audit and should issue a release at the conclusion of that audit.
MeCoin operates a cryptocurrency network similar to the more widely known Bitcoin, but operates primarily in Latin American markets. High tech hacking on such networks is becoming more and more popular as the technology gains popularity. MeCoin says they’ve been able to aggressively stop the more sophisticated attacks, and the most recent breach was an isolated incident that was easy to fix.
Published at Fri, 02 Jun 2017 05:58:27 +0000