Save yourself!

Makrand, a fictitious name used for a Bengaluru data scientist and bitcoin investor, got his bitcoin account hacked at Unocoin, an exchange for digital currencies in India, with him losing approximately 120,000 INR (about $1,870) within a few minutes.

On June 1, Makrand logged into his Unocoin account using the smartphone app of the exchange with the intention to purchase BTC. As soon as the transaction was complete, he received an email from Unocoin with a link to reset his password. The email was almost immediately followed by another confirming the successful password reset. When Makrand checked his account, he realized that there were two unauthorized transactions, one for 0.40049 BTC and the other for 0.3005 BTC, followed by a third with the same amount as the last one, but, fortunately, it did not go through.

“The thing with Bitcoin is that the users behind the transactions are anonymous until and unless they voluntarily reveal their identity,” Makrand said in an interview with the news publication FactorDaily.

However, the hack was not easy. To gain access to Makrand’s bitcoin wallet, the criminal or criminals needed to get inside the victim’s Gmail account to obtain the password reset link, and needed access to Makrand’s phone number, on which he receives the OTP (one-time password) for transaction authentication.

So guys please beware of the hacks going around and choose the broker/exchange wisely.

Source :- cryptocoinnews