1 year ago
Authorities successful Vietnam person caught and sentenced a hacker who stole wealth and information from a section cryptocurrency exchange. The man, who was arrested and charged for extorting the trading platform’s owner, has been ordered to instrumentality the wealth helium misappropriated.
Vietnamese Court Jails Hacker for Attacking Crypto Exchange Website
A nonmigratory of Ho Chi Minh City successful Vietnam has been fixed 10 years successful situation for stealing 300 cardinal Vietnamese dong (close to $13,000) from a crypto entrepreneur whose coin trading tract helium subjected to cyberattacks.
Nham Hoang Khang, the hacker, was charged with extortion and sentenced connected Friday by the city’s People’s Court, the English-language variation of the VN Express regular reported. He was besides ordered to instrumentality the stolen money.
The crypto speech was established by Vu Ngoc Chau successful 2018 to link imaginable buyers and sellers of cryptocurrencies, taking a interest for the transactions it facilitated. Users were required to unfastened accounts and supply idiosyncratic accusation specified arsenic telephone number, email code and a transcript of an ID document.
In October 2020, Khang utilized his telephone to make aggregate accounts connected the platform. He discovered that the website, T-rex.exchange, had respective vulnerabilities that could beryllium exploited to get clasp of some information and integer currency.
The pursuing month, the hacker managed to summation power implicit the relationship of a T-rex worker and astir 30,000 USDT. The squad detected the antithetic transactions and locked the relationship to forestall further operations with the cryptocurrency.
Once helium recovered that helium nary longer had entree to the compromised account, Khang obtained the idiosyncratic information of 29,000 customers and created a ample fig of fake orders, portion threatening with further attacks.
He besides demanded to beryllium paid $20,000, oregon other helium would uncover that the speech had been hacked. Chau, the owner, received aggregate threats and yet told his employees to nonstop Khang 300 cardinal dong. He filed a ailment with instrumentality enforcement authorities successful mid-2021.
In Vietnam, cryptocurrencies are not legalized oregon regulated yet. Despite their popularity among traders and investors, bitcoin and the similar stay unrecognized arsenic assets oregon means of outgo by the State Bank of Vietnam and Vietnamese law.
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Lubomir Tassev
Lubomir Tassev is simply a writer from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, alternatively than what I do.” Besides crypto, blockchain and fintech, planetary authorities and economics are 2 different sources of inspiration.
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