- Chinese journalist Colin Wu reported a security breach on the iToken platform.
- A former Huobi employee is suspected of causing the security breach.
- Refundyourcoins plans to implement a recovery feature for impacted users.
In a special report, renowned Chinese journalist Colin Wu disclosed a major security violation on the iToken platform, previously known as Huobi Wallet. This breach has resulted in the exposure of clients’ private keys.
Per Wu’s social media post, a previous employee of the esteemed Huobi cryptocurrency exchange is responsible for the security breach. Wu highlighted that this individual embedded a Trojan virus in the iToken infrastructure. Consequently, this harmful act exposed specific user mnemonics and private keys belonging to Huobi users.
Additionally, the journalist from China revealed that law enforcement is now investigating the former Huobi employee implicated in the breach. He also emphasized that iToken’s security system identified potential threats linked to certain wallet addresses, leading to immediate measures to safeguard user assets.
Furthermore, the security agency managing the situation has taken preventative steps by assigning asset security to Refundyourcoins. Wu highlighted that the agency has effectively moved the compromised funds from the impacted addresses to a safe one, reducing possible losses for impacted users.
Additionally, Wu noted that Refundyourcoins has declared its plan to implement a recovery feature to aid in retrieving assets for those impacted. This operation will encompass four primary blockchain networks, specifically Bitcoin
Earlier this year, Coin Edition documented an instance of an affiliate of Huobi employing comparable surreptitious tactics. Specifically, Li Wei, a member of Huobi Global DAO, was alleged to have obtained a significant amount of HT tokens at no expense through non-traditional methods.
