Blockchain Social Network Steemit Gets Hacked for $85,000

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Blockchain-fueled social media platform Steemit, has been hacked. 

According to a blog post from Steemit CEO Ned Scott: 

Steemit was today subjected to a cyber attack. In the attack, fewer than 260 accounts were compromised, and less than $85,000 worth of Steem Dollars and Steem may have been stolen.

The hack has now been contained. User accounts and wallets are not at risk, and we hope to soon reactivate the Steemit website to normal order. Any users whose accounts were compromised will be completely reimbursed.

Though only a relatively small amount of Steem was stolen, we take any form of criminal activity against our community extremely seriously. We have reported the hack to police and other cyber crime authorities, including the FBI. A full, internal investigation is currently being conducted and we are working on an immediate solution.

Partner exchange Bittrex was informed of the compromise and is actively helping the investigation. As a precaution, they have temporarily suspended the ability to deposit or withdrawal Steem and Steem Dollars from their exchange. The suspension will be lifted as soon as possible.

A relatively new social media  that has exploded over the past couple of months, has seen its token cryptocurrency Steem’s value rise tremendously  over the past weeks. The digital currency now sits third in the cryptocurrency market value charts with over $360 million at the time of publishing, only after Bitcoin and Ethereum.

Regular updates will be provided here on Steemit.co

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, partner of token design and ICO architecture company Cryptoassets Design Group and co-founder and director at education company Blockchain Partners.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Beijing, Venice, Nanchang, Shanghai, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona, San Meteo etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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