EtherDelta Cautions Users of Malicious Attacks

Digital currency exchange EtherDelta posted a series of warnings via twitter to alert its users not to use the site. EtherDelta stated that they believe a hack has compromised their DNS server, and the attacker has created a duplicate of their domain.

The first announcement in the series reads:

EtherDelta described the phishing site to be a duplicate of their website, but without their official Twitter feed nor a chat button on the navigation bar. It also holds faux order books.

The cryptocurrency exchange halted services in the interest of safety after the attack. The Ether wallet of the supposed attacker has been flooded with comments from conscientious EtherDelta users.

Decentralization and the anonymity and freedom that comes with the cryptocurrency is what makes it appealing. However, it often comes with a very little recourse to hacks since it lacks centralized and transparent authority.

As the digital market expands, a growing number of crypto-related services are experiencing attacks and proving vulnerable to them. South Korean exchange Youbit previously declared bankruptcy after being hacked in April, losing a crippling 4,000 BTC. It was followed by several other hacks amounting to 17 percent of its net assets.

In early December, mining service NiceHash lost 4,700 BTC in a hack equivalent to nearly $80 million today. There were also reports about North Korea staging hacking attempts aimed at several exchanges in South Korea. They use faux job offers and Facebook profiles to access digital currency exchanges.

Similar phishing attempts were used against OmiseGO while the team was announcing a possible AirDrop by a Twitter account.

The EtherDelta has been working to limit the attack by providing users with a video demonstrating how to move funds without accessing the site securely.