Sentenced to Prison for Stealing from Vietnamese Crypto Exchange – Crypto Trading News

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Vietnamese A cybercriminal who targeted a local cryptocurrency trading platform has been caught by the authorities and sentenced. The perpetrator was put behind bars and made to return the funds he had stolen.

Vietnamese Court sentences hacker for attacking crypto exchange website

A person from Ho Chi Minh City In Vietnam For unlawfully obtaining 300 million dollars, he was handed down a 10-year prison sentence by the Vietnamese People’s Court On Friday, according to the Vietnamese Express newspaper. The He was also ordered to pay back the money.

The Initially established in 2018, the first crypto trading platform was established by Vu Ngoc Chau To enable individuals to buy and sell digital coins. To You needed to open an account and provide some personal data, such as a phone number, email address and a copy of an ID.

In October 2020, Khang Through his smartphone, the hacker created multiple accounts. He He then managed to find several weaknesses on the T-rex.exchange website that enabled him to access confidential user data and crypto assets.

The The hacker gained access to the account of a T.rex employee and moved around 30,000 USDT over the following month. The The team identified the questionable transactions and blocked it to avoid further crypto trading.

Once He discovered that his account had been blocked. Khang He managed to steal the information of 29,000 customers and created numerous fake orders, all the while threatening to launch new attacks.

He He asked for $20,000 or he would reveal the hacked data from the exchange. ChauThe owner received several threats, and eventually commanded an employee to deliver them. Khang 300 million dong. He The deadline for filing a report with the police was mid-2021.

In VietnamCryptocurrencies are not yet officially recognized or regulated. Despite This, they’re widely used by traders and investors. Bitcoin These digital assets and other similar items are not seen as means of payment or financial instruments by the state. State Bank This is Vietnam And according to Vietnamese law.

This story has tags

Hacking, Crypto, Crypto Assets, Crypto Exchange, Cryptocurrencies, Cryptocurrency, Extortion, Hack, Hacker, Hackers, Hacking Attack, Sentencing and Trading Platform Vietnam, Vietnamese

What are your thoughts on this case involving the Vietnamese crypto exchange? Share your opinion in the comment section below.

lubomir tassev

Lubomir Tassev Are you tech-savvy? Eastern European Journalist who enjoys Hitchens’ quote: “Being a writer is who I am, more than what I do.” In Two other sources of inspiration are crypto, blockchain, and fintech.

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