Turkish Crypto Exchange Under Fire for Security, Withdrawal Issues

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Turkish crypto exchange Sistemkoin may have been doing wonders in terms of accumulating new business, recording USD 68 million in volume in 24 hours and over USD 10 million in Bitcoin trades alone. But according to an author at CCN, it suffers from some appalling security problems in its platform.

The author claims that there is a significant vulnerability with Sistemkoin’s support ticket system, where a port scanner called Burpsuite can be used to compromise the ticket system and lead to uncountable possible attack vectors. For instance, an attacker can tap into the support ticket system posing as one of the administrators and ask the user to verify their account or disable two-factor authentication.

The second vulnerability in the platform was with the withdrawals, where even the basic security practices are supposedly neglected and users are having a lot of problems going through the transactions.

Sistemkoin have refuted the claim, however, with its own statement published on Twitter explaining that Bitcoin wallet server upgrades were what caused the suspension of service. The exchange slammed the “anonymity of the claim” as evidence that the accusation was a defamatory action.

 

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