back to article now says someone tried to drain $34m from hundreds of accounts on Thursday said in a roundabout way that an unidentified person stole or attempted to steal as much as $34m in cryptocurrency from customer accounts. In an update on the cyberattack reported earlier this week, the Singapore-based firm said it "learned that a small number of users had unauthorized crypto withdrawals …

  1. ShadowSystems

    It sounds like their MFA was worth SFA.

    If their MFA was being bypassed then having it enabled did nothing, does nothing, & offered zero protection to those whom had their funds stolen.

    Please, tell us again how having it active does SFA to keep your customers safe?

    1. Andy E

      Re: It sounds like their MFA was worth SFA.

      With a little insider help it is possible to bypass the 2FA system. In a recent Twitter incident they (the criminals) impersonated an employee who was having difficulty getting access and the Admin people let them in bypassing the 2FA. So it can be done.

  2. Throatwarbler Mangrove Silver badge
    Thumb Up

    I am physically aroused ...

    ... by this sentence:

    "However, the intersection of social media and cryptocurrency is so full of shills and sh*tposting that any such assertions should be viewed with the same skepticism that the poorly regulated crypto industry deserves."

    I'll be in my bunk.

  3. Anonymous Coward
    Anonymous Coward

    Your cash wasn’t stolen

    It’s just in another quantum reality

  4. Anonymous Coward
    Anonymous Coward

    Your money would be safer

    in an Umbrella company.

  5. iron Silver badge

    > a 24-hour delay between the time an approved withdrawal address is registered and the time it can first be used

    Crypto is disrupting banking! Regular banks with Fast Cash payments just can't compete with a transfer that takes over 24 hours.

    1. Aristotles slow and dimwitted horse Silver badge

      They are way behind the times. Have they not heard of a "cheque"? It's like being in the future... but now!!!

      1. Anonymous Coward
        Anonymous Coward

        Seriously, it sounds like those guys are just in the process of reinventing banking from scratch and getting to the exact same results that crapcoin worshipers pretend to abhor.

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