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Hackers stole users’ API keys of btc38 to manipulate the order books.

At 2:00 on 29th March (UTC +8), hackers got the control of around 5 accounts’ trading API KEY of btc38, through which they placed orders at ridiculous price. Btc38’s night clerk noticed this abnormal price move instantly, shut down its website immediately and looked for the cause of this incident mannually. Until the next morning of 7:30, they got everything sorted out, and reopened their website.

The 5 accounts contains ¥3 million, through which hackers dumped and pumped many altcoins listed at the platform. They managed to use their personal accounts to buy back the coins at cheap price and sell out at high price for their own interests, then tried to withdrawl BTC and RMB to their wallets.

Due to the implemented automatic early warning system by btc38, btc38 limited the withdrawal amount of hackers’ personal accounts. Until the time of emergency shutdown, hackers hadn’t managed to withdraw any amount of money from the platform. To their suprise, they hadn’t noticed the btc38’s automatic early warning system and night clerk,   failed their malicious attempt.

Btc38 has rolled back the trading records, returned the money to the stolen accounts, temporary locked them, deleted the trading records. At the same time, they temporaly suspended the function of API trading before further improvements are implemented.

About BTC38 API KEY

Users have to request support for API public and private key. Supports and users know the keys. Hackers may compromise their computers or the trading bot at the remoting cloud servers, then decided to initiate this attack at the morning when the Chinese fell sleep.

Technical Analysis

The affected coins include: Litecoin, Dash, Blackcoin, MegaCoin, Mediterraneancoin, TimesCoin, VOOT, worldcoin, Primecoin, YBcoin, and ZhaocaiCoin.

Litecoin
Litecoin’s trading volume reached to 5840 LTC at the time of 03:00 (UTC +8) and we can see that on the following hourly chart. The highest price climbed to 0.00701 BTC / LTC, and the lowest dipped down to 0.001 BTC.

LTC price chart at btc38

Dash
Dash’s trading volume reached to 2829 Dash at the time of 03:00 (UTC +8) and we can see that on the following hourly chart. The highest price climbed to 95BTC / Dash, and the lowest dipped down to 0.01649BTC.

Dash trading chart at btc38 29th March, 2016

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