Cryptocurrency startup hacks itself before hacker gets a chance to steal users funds

    Date06 Jun 2019
    CategoryHacks/Cracks
    1453
    Posted ByBrittany Day

    If you're a cryptocurrency startup, would you face a huge backlash by hacking your own customers to keep their funds safe if you know that a hacker is about to launch an attack and steal their funds?

    This is exactly what happened yesterday when the Komodo Platform learned about a backdoor in one of its older wallet apps named Agama.

    Knowing they had little time to act, the Komodo team said it used the same backdoor to extract users' funds from all impacted wallets and move them to a safe location, out of the hacker's reach.

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    If you're a cryptocurrency startup, would you face a huge backlash by hacking your own customers to keep their funds safe if you know that a hacker is about to launch an attack and steal their funds?

    [fulltext] =>

    This is exactly what happened yesterday when the Komodo Platform learned about a backdoor in one of its older wallet apps named Agama.

    Knowing they had little time to act, the Komodo team said it used the same backdoor to extract users' funds from all impacted wallets and move them to a safe location, out of the hacker's reach.

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    If you're a cryptocurrency startup, would you face a huge backlash by hacking your own customers to keep their funds safe if you know that a hacker is about to launch an attack and steal their funds?

    This is exactly what happened yesterday when the Komodo Platform learned about a backdoor in one of its older wallet apps named Agama.

    Knowing they had little time to act, the Komodo team said it used the same backdoor to extract users' funds from all impacted wallets and move them to a safe location, out of the hacker's reach.

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