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Law enforcement agents have arrested and convicted a hacker for making a local cryptocurrency exchange platform the object of repeated attacks. The man was accused of extorting the crypto platform and therefore was ordered to return the money that he had stolen from it.
The man, who was identified by the name Nham Hoang Khang was sentenced to a 10-year jail term for stealing 300 million dong (dong is the Vietnamese local currency). This amount is equivalent to $13,000.
The Hacker Terrorizes the Platform
Vu Ngoc Chau is the proprietor of the business venture. He established the crypto exchange platform in 2018. The name of the platform is T-rex Exchange. The platform connects buyers and sellers in return for transaction fees. Prospective buyers and sellers were required to open an account with the exchange platform, providing personal information such as identity card information, phone number, email address, and some other relevant information. In 2020, Khang, the hacker, opened multiple accounts on the T-rex crypto exchange platform. He then discovered a lot of vulnerabilities on the platform. He at first accessed the accounts of T-rex employees, but later, he could no longer access their accounts, because the team noticed unusual transactions and took action against them. He then took control of the account of close to 30,000 customers on the platform. Apart from this, the proprietor of the platform had received multiple threats from Khang, demanding the sum of $20,000 or else he would reveal to customers that the platform had been hacked. This threat made the proprietor of the business transfer 300 million dong worth of crypto to him. The court demands Khang pay $20,000.
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