Hackers steal another $180k from Cryptopia exchange

LocalBitcoins experiences security breach, six accounts compromised

LocalBitcoins, a Finland-based peer-to-peer Bitcoin trading platform announced on Saturday that it has experienced a hack, with six accounts compromised in the process. This is according to a Reddit post by the company.

LocalBitcoins hacked, some accounts compromised

The platform posted on Saturday that it has suffered a hack, with some of its users affected in the process. They stated that the hack was detected at around 10:00 UTC on Saturday and it was connected to a third party software. This enabled the hacker to gain access to user accounts of six customers and make transactions.

So far, only six accounts have been identified, but LocalBitcoins stated that it had launched further investigations into the issue as it seeks to determine the exact number of accounts breached.

A crypto enthusiast on Twitter pointed out that the LocalBitcoins forum site had been replaced by a fake phishing site that stole users’ two-factor authentication (2FA) details. This enabled them to access the crypto wallets of the users.

LocalBitcoins is yet to confirm that allegation but stated that “For security reasons, the forum feature has been disabled until further notice.” A Reddit user lamented that their account is one of the six affected, stating that “I’m afraid to use my 2fa code for the time being until the server is confirmed secure. When I first tried to login with my 2fa code there was an error then when I tried again, my wallet was wiped clean. So these hackers move fast,” they added.

The platform has assured its community that it has taken some measures to address this issue and secure the limited number of accounts that might have been at risk. Transactions were disabled on the platform earlier, but everything has now been restored to normal. The platform noted that user accounts are safe to log in and use at the moment. They also urged users to enable 2FA on their accounts.


Hassan is a prolific writer of crypto currency news, forex updates and the stock exchange market.

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