Hacker Sent to Prison for Robbing Vietnamese Crypto Exchange

Authorities in Vietnam have caught and sentenced a hacker who stole cash and information from a neighborhood cryptocurrency alternate. The man, who was arrested and charged for extorting the buying and selling platform’s proprietor, has been ordered to return the cash he misappropriated.

Vietnamese Court Jails Hacker for Attacking Crypto Exchange Website

A resident of Ho Chi Minh City in Vietnam has been given 10 years in jail for stealing 300 million Vietnamese dong (near $13,000) from a crypto entrepreneur whose coin buying and selling website he subjected to cyberattacks.

Nham Hoang Khang, the hacker, was charged with extortion and sentenced on Friday by town’s People’s Court, the English-language version of the VN Express every day reported. He was additionally ordered to return the stolen cash.

The crypto alternate was established by Vu Ngoc Chau in 2018 to attach potential patrons and sellers of cryptocurrencies, taking a charge for the transactions it facilitated. Users have been required to open accounts and supply private data akin to telephone quantity, e mail deal with and a replica of an ID doc.

In October 2020, Khang used his telephone to create a number of accounts on the platform. He found that the web site, T-rex.alternate, had a number of vulnerabilities that might be exploited to pay money for each information and digital forex.

The following month, the hacker managed to realize management over the account of a T-rex worker and round 30,000 USDT. The crew detected the weird transactions and locked the account to stop additional operations with the cryptocurrency.

Once he discovered that he not had entry to the compromised account, Khang obtained the private information of 29,000 prospects and created a lot of pretend orders, whereas threatening with additional assaults.

He additionally demanded to be paid $20,000, or else he would reveal that the alternate had been hacked. Chau, the proprietor, obtained a number of threats and finally informed his staff to ship Khang 300 million dong. He filed a criticism with legislation enforcement authorities in mid-2021.

In Vietnam, cryptocurrencies should not legalized or regulated but. Despite their reputation amongst merchants and buyers, bitcoin and the like stay unrecognized as property or technique of fee by the State Bank of Vietnam and Vietnamese legislation.

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