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HitBTC breach results in 40 million stolen DVPN coins

Cryptopolitan


TL;DR Breakdown

  • According to the recent Tweet by Sentinel Network, nearly 40 million native DVPN tokens have been stolen in a recent breach.
  • The theft from HitBTC have left people questioning its security and the safety of their assets.
  • The HitBTC breach occurred due to a weakness in the Bitcoin exchange’s mnemonic phrase, as reported by Sentinel Network.

The cryptocurrency world is still in its budding phase. A lot of institutional money is flowing in as people understand that they are gradually adopting cryptocurrencies and blockchain technology. Many vulnerabilities and regulation issues often land crypto exchanges and blockchain-based firms in trouble.

On Friday, it was revealed by the Sentinel Network that a HitBTC breach resulted in a loss of over 40 million DVPN tokens for the centralized exchange. Further details on the HitBTC breach revealed that the breach actually happened due to a weakness that the attackers figured out in the mnemonic phrase.

HitBTC breach due to mnemonic compromise