BtcTurk Admits to 2018 Data Breach That Affects Over 500,000 Users

BtcTurk, one of Turkey’s most famous cryptocurrency portals, has recently accepted a three-year-old data leak. The entity had dismissed the hack originally, but the sharing had to be clean after attackers had begun publishing several of the information they downloaded.

They told consumers that their resources were secure and that no sensitive information had been hacked. The exchange confirmed that it had experienced a cyber attack in July 2018 in a separate statement.

This hack, however, only involved non-financial details such as names and identification numbers, emails, address details, mobile phone numbers, and IP addresses out of which they signed into their server before July 2018.

BtcTurk Admits to 2018 Data Breach

BtcTurk announced the decision just days after the news appeared that stolen data in 2018 had circulated in an internet site auction. Many strangers, the seller said that the data included details including customer portraits with their IDs, which the exchange refused.

Many other people took to social media over the weekends to post information about the online auction they had discovered, with the majority of them confirming the purchaser’s allegations. Throughout this time, the platform maintained that no data from its servers had been compromised.

It will later reverse course and announce the 2018 hack, which involved 516,954 customers, according to the company’s announcement. Users of BtcTurk have been told that their codes have not been modified.

The exchange stated, “With the PBKDF2 algorithm, passwords are stored unilaterally and are protected in a way that no one except the user with the relevant password can know. It is not possible to detect passwords by reversing the PBKDF2 algorithm with current technological possibilities.”

Both users whose information is collected have been contacted by the company. It has strengthened its protection plan to facilitate that such an incident does not occur again. Users must, however, remain cautious, particularly as the identify phishing incidents are on the increase, according to the trade.

BtcTurk is the new Turkish exchange to make headlines in recent weeks. One of the country’s biggest exchanges abruptly shut down a month ago. About $2 billion in funds from 400,000 customers is lost when the Thodex exchange went down. Since then, Turkish police have detained 62 people with links to the trade.

Another exchange, Vebitcoin, shut down just days after the Thodex fiasco. The shutdown was blamed on an increase in transaction volume and new rules, according to the company.