BlockTime #11 – Surviving Crypto Exchange Hacks

Mike Casey:  I want to ask if you’ve got hacked before. What was it like? Was the exchange hacked or…?

Leon Fu: Yes, the exchange got hacked. I’m pretty lucky that I haven’t been hacked, but there were a few tokens on crypto. Those are not actually hacked, but they’re more like scams. Anyway, as I said, I don’t have large amounts sitting on an exchange.

Mike Casey: Nobody had anything like Bitfinex?

Leon Fu: Bitfinex was a Hong Kong chain, so I did not have anything there at all.

Tai Zen: You know what’s interesting is Leon got hacked on Bittrex, but they returned the money back to him.

Leon Fu: they returned it, but I still took a loss because they refunded me Bitcoins

Mike Casey: They refunded you personal? Oh, Bittrex did that?

Leon Fu: They did make everyone whole.

Mike Casey: I thought that was the hacker.

Leon Fu: They did make everyone whole, but that’s only if you held bitcoins. What the hacker did was he reset everyone’s password and then sold any coins you are holding into Bitcoin, then withdrew with Bitcoins.

Mike Casey: That’s when you didn’t have two-factors on.

Leon Fu: I didn’t have two-factor on that because it was such a small amount that I didn’t even worry about it. After that, I turned it on again.

Tai Zen: What’s interesting is that the hacker who has been trying to hack me ever since I’ve been online spotted, Leon.

This is not a joke because we’re the primary targets of hackers all over the world. Since we have a popular cryptocurrency channel, we always have to look out for that.

Michael Tidwell: That’s why we don’t use Youtube. We use Soundcloud.

Tai Zen: What interesting was when the people hacked me personally also claimed that they hacked Bittrex.

Leon Fu: I mean it may not be true

Tai Zen: But the reason I think that is true is when our account got hacked at Bittrex, nobody knew about it, except for you and me

Leon Fu: Some of my friends who didn’t have two-factor on were also lost.

Tai Zen: The real reason I say that is how the hacker knew that you have an account on Bittrex.

Leon Fu: I did tweet about it.

Tai Zen: Ok

Leon Fu: In fact, Bittrex announced that they were hacked. Basically, everyone who did not have two-factor authentication on had their passwords reset. That’s how the hacker got in.

Learn more about Michael Tidwell and Mike Casey from BlockTime at:

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