Todayq News has unexpectedly become involved in a complex web of deceit and security flaws, raising questions about the security breach and potential corruption within the Bithumb ecosystem, one of the biggest cryptocurrency exchanges in South Korea. This unexpected turn of events has raised concerns about the ecosystem’s integrity.
It all began when a LinkedIn user named Green Seong, allegedly a Bithumb employee, initiated contact with a proposal for collaboration between Bithumb and Todayq News. Seong’s proposition seemed legitimate, aligning with Bithumb’s purported expansion plans in India. What lent credibility to the collaboration was Seong’s extensive LinkedIn profile, complete with educational and professional details, creating an aura of authenticity.
As discussions progressed, Todayq officials were added to a Telegram group (which seemed too real) to facilitate further communication. The group allegedly included apparent Bithumb officials and Bithumb official bot. The officials were then asked to review a draft copy of the contract sent by email. Making things even trickier, they were using an official email address associated with Bithumb: listing@bithumbcorp.com (bithumbcorp belongs to bithumb). This official address made it seem real, even though the whole situation was more complicated than it seemed.
Curiously, the Bithumb officials claimed that a $50,000 deposit was required for collaborations between Korean firms and foreign agencies. The draft contract contained numerous grammatical errors, and it fell short of effectively conveying the exact purpose of the proposed partnership. Notably, it stipulated a payment of $50,000 from Todayq News without providing a clear rationale for this financial obligation. We decided to dig deeper and tried reaching out to Bithumb, but got no answer.
To make sure things were clear, we reached out to a Bithumb employee named Amias Young on LinkedIn. Amias basically said, “Nope, there’s no need for any deposit! And Bithumb has no such partnership policies” he also warned that those folks claiming to be from Bithumb are scam artists.
A crucial turn in the narrative arrived when Kum Chang, a member of the telegram group involved, shared a screenshot of a conversation between Amias Young and Todayq Officials. This act, although quickly retracted by Chang, suggested an unsettling possibility—the breach of internal communications.
The trick seemed even more believable because the people involved had really convincing profiles. Especially Seong’s – it had all sorts of information about their work and education. Due to the incident’s complexity, two unsettling conclusions can be drawn. First off, we question how these people gained access to an email address like listing@bithumbcorp.com, which seemingly carries Bithumb’s official domain name (which was found on their official website), it raises concerns about his potential direct or indirect connection to Bithumb’s official channels or staff or a security breach. Second, the compromise of internal communications exposes a serious flaw at Bithumb, which could have repercussions for both the business and its clients.
The recent events surrounding Bithumb have shed light on the critical importance of communication and security within the cryptocurrency industry. The breach of Bithumb’s email system, whether from an insider or security breach, has raised significant concerns. While we are not making direct accusations, we believe it is essential for Bithumb to provide clarity and assurance to its customers regarding their platform safety. In the world of cryptocurrency, trust is paramount, and this incident serves as a stark reminder for all stakeholders to exercise caution and demand robust security measures.