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Hackers gone after Stellar Lumen cryptocurrency and steals $400,000

BlackWallet app host server was hijacked Saturday and amount worth $400,000 of Stellar Lumen cryptocurrency stolen from users’ accounts.

Although BlackWallet tried to warn users about the attack via forums, many sustain to log in and therefore lost money. Further, the site claims that the stolen Lumens were forward to Bittrex and converts into another currency to hide hacker tracks.

Creator of the wallet said he had disabled hist hosting account and websites.

In a Reddit post, the creator said,

“I am sincerely sorry about this and hope that we will get the funds back. I am in talks with my hosting provider to get as much information about the hacker. Thus, will see what can do with it.”

Further, the developer who goes by the alias of Orbit84 said,

“If you ever entered your key on BlackWallet, you may want to move your funds to a new wallet.”

Lumen Stellar is an open source payments network focuses on reducing poverty in the developing world. The network focuses on making transactions cheaper, quicker and more reliable.

Hackers have struck more in the recent past as value of cryptocurrencies rose. Bithumb exchange, which is in South Korea loses millions of dollars’ worth of Bitcoins and Ethereum to hackers last year. Personal information belonging to 30,000 people was breaches following the attack.

NiceHash, a company that lets users rent or sell mining equipment to other users, also lost an amount of  Rs 500 crore or 4,700 bitcoins in a December 8 attack.

Another company, Youbit, a cryptocurrency based in South Korea, also suffered a second attack last year making it to close operations after losing 17 percent of the exchange’s assets.

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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