Taiwan antique dealer loses thousands of cryptocurrency to hackers
Taipei, Aug 22 (CNA) An antique dealer in Taiwan was robbed of US $ 500,000 in digital currency after his cloud accounts were hacked last month, police said on Sunday.
Police said the money was held in two Tether accounts in the United States, after a customer made a payment of $ 3.08 million to the merchant in that cryptocurrency.
In July, however, the antiquarian noticed several transfers from Tether accounts to other people’s cloud wallets, which had not been done by him or any of his trusted employees who had access to the accounts, said. the police.
The Chiayi City-based trader has changed account passwords several times but failed to stop unauthorized transfers, according to city police.
He then reported the matter to Chiayi police, but by that time the hackers had already withdrawn some US $ 500,000 in cryptocurrency from the accounts, police said.
Tether operators were able to freeze the remaining $ 2.6 million in cloud wallets after the Taiwan Bureau of Criminal Investigation intervened, police said.
Investigators in Taiwan identified the hacker’s Internet Protocol address, which was linked to a cloud service provider in New Taipei City, police said.
Based on the information obtained during the initial investigation, it emerged that the account passwords and other vital information had been stolen by hackers who infiltrated the cell phones of the antique dealer and of its employees, police said, adding that the case was still under investigation.
Launched in 2014, Tether is considered a stable cryptocurrency because its value is pegged to the US dollar and it is said to be backed by reserves of cash and cash equivalents.