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Breaking news: Hackers steal Bitcoin funds from Bithumb exchange traders

July 2017 by David Kennerley, director of threat research at Webroot

Following the recent news has broken that Bitcoin funds have been stolen from Bithumb customer accounts, David Kennerley, director of threat research at Webroot, comments:

"The news of this Bithumb hack highlights the fact that employees can still be an organisation’s weakest link with regards to security. The fact that access appears to have been initiated by initially compromising an employee’s personal PC is a very worrying development - highlighting huge failings on so many levels, from an employee education and training standpoint, all the way to administrative and technical controls, to monitoring and enforcement.

Such cases emphasise the need for businesses to have clearly defined security policies and procedures round the use of personal devices for work purposes and the re-use of passwords - employees should not be using their work passwords for personal use. While businesses should consider investing in technical security layers, from threat intelligence solutions, to two factor authentication - which would surely have helped in this case. Understanding why this hack is only coming to light now will be one of the first questions customers will wish to have answered very quickly - as this breach is reported to have occurred in February of this year."

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