Bitcoin

The Foundation IOTA reacts to the hack causing it to lose $ 1.6 million

February 25, 2020 by Antoine

Hackers have yet jubilee after the scam perpetrated against IOTA, the 23rd-largest crypto-currency by market capitalization in the world. IOTA would have been the target of a hack that has stolen over 1.5 million dollars.

The victims rally together

After the assessment of the extent of the damage caused by the incident, the foundation responded quickly by closing temporarily the entirety of its network.
Team IOTA has deployed all its capabilities to engage in a fierce struggle to stop the pirates. She has appealed to the cooperation of its customers.

“We are currently on a suspicious situation with Trinity. Please do not open or use Trinity desktop version until further order, ” she wrote in a tweet.

Apart from the team of IOTA, the judicial authorities have also put their hands in the dough for the resolution of this matter. They hope to find out soon the identity of the pirates.

Strengthen the security of the portfolio

Not only IOTA wants to discover the identity of criminals, it has also embarked on strengthening measures to guard against such attacks in the future. Currently, she has carried out reforms on its entire ecosystem, in addition to the creation of the new version of its portfolio Trinity.
This new version is more efficient than the former, knowing that the vulnerabilities identified may open a breach for the attackers have been corrected. Another innovation that will be implemented by the team is to involve its users in their security protocol.

“Once published, we ask you if you see unusual activity on your accounts contact the mod team Discord or members of the Foundation IOTA “.

It has, however, notified of the existence of impostors who hide as part of the staff of the Foundation. In front of the suspect cases, clients should call directly to the mod team.
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Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.