Cryptocurrency Cybersecurity

Turkish Firm Falls Victim to Cryptocurrency Heist of $2.47 million

A Turkish based cryptocurrency company has been the target of a cryptocurrency heist totaling $2.47 million.

The company, which has not been named, alerted authorities to the hack upon discovering the BitcoinEther, and XRP tokens were missing from the firm’s wallets. The Istanbul Cybercrime division has confirmed that the funds had been transferred from two of the firm’s virtual wallets over to wallets controlled by the hackers.

During the investigation, 1.3 million Lira ($232,799) worth of cryptocurrency along with 54,000 Lira ($9,670) in cash were seized and returned to the Istanbul-based cryptocurrency company. The remaining $2.23 million is yet to be recovered.

Investigators have discovered that the group of hackers used the popular multi-player game PUBG to plan and communicate leading up to the cyberattack.

Out of the 24 suspects held, two have since been released without charge. The Prosecutor’s Office for the case has made formal arrests for six of the suspects, and the remaining 16 have been released on judicial control. The hearing will be held at the Istanbul Courthouse in Caglayan. The court date is yet to be set.

Cryptocurrency users are being encouraged to ensure the correct security protocols and procedures are followed to ensure the safety of their virtual currency.