Hackers in prison for robbery on Vietnamese crypto exchange-Exchanges
Hackers in prison for robbery on Vietnamese crypto exchange-Exchanges
authorities in Vietnam have caught and convicted a hacker that stole money and data from a local cryptocurrency exchange. The man who was arrested and charged with the extortion of the owner of the trading platform was asked to return the money he had undermined.
Vietnamese court condemned Hacker for attacks on crypto-exchange website
A resident of Ho Chi Minh City in Vietnam was sentenced to 10 years in prison because he had stolen 300 million Vietnamese Dong (almost $ 13,000) from a crypto entrepreneur whose coin trading side that he was exposed to.
The Hacker Nham Hoang Khang was charged with extortion and convicted by the city's People's Court on Friday, the English -language edition of the daily newspaper VN Express reported. He was also asked to return the stolen money.
The crypto exchange was founded in 2018 by VU NGoc Chau to bring together potential buyers and sellers of cryptocurrencies and to collect a fee for the transactions it made possible. Users had to open accounts and provide personal information such as telephone number, email address and a copy of a ID document.
in October 2020 Khang used his phone to create several accounts on the platform. He discovered that the website T-REX.EXCHANGE had several weak points that could be used to get both data and digital currencies.
In the following month, the hacker managed to control the account of the account of a T-Rex employee and around 30,000 usdt . The team discovered the unusual transactions and blocked the account to prevent further operations with cryptocurrency.
When he found that he no longer had access to the compromised account, Khang received the personal data from 29,000 customers and created a large number of fake orders while threatening further attacks.
He also called for a payment of $ 20,000, otherwise he would reveal that the stock exchange had been hacked. Chau, the owner, received several threats and finally asked his employees to send Khang 300 million Dong. He filed a complaint with the law enforcement authorities in mid -2021.
in vietnam , cryptocurrencies are not yet legalized or regulated. Despite their popularity among dealers and investors, Bitcoin and the like are not recognized as wealth or means of payment by State Bank of Vietnam and Vietnamese law.
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