Thunder Terminal's Rapid Response to $240,000 Hack: Security Measures and Hacker's Ransom Demand
Jessie A Ellis Dec 29, 2023 04:39
Thunder Terminal exploited 114 wallets, causing $240,000 in damages. Users were promised refunds and additional credits, but the hacker disputed these claims and demanded a ransom.
There was a big security compromise that occurred on the on-chain trading platform known as Thunder Terminal. An exploit resulted in illegal access to 114 of the more over 14,000 wallets that were connected to its network. The total amount of losses reached 86.5 Ether and 439 Solana, which is roughly comparable to $240,000. According to reports, the assault, which was carried out in only nine minutes, was caused by a third-party service that Thunder Terminal used that had been hacked.
During the time period of 12:11:47 UTC, the exploit was started by making suspicious withdrawals from Thunder wallets. The attacker was able to acquire access to a MongoDB connection URL, which gave them the ability to carry out withdrawals by using session tokens. Thunder Terminal has informed users that none of their private keys or wallets have been directly compromised, despite the gravity of the situation. Due to the fact that the architecture of the platform does not retain private keys, direct access to user wallets, especially desktop wallets, was not possible.
As a direct reaction to the security compromise, Thunder Terminal took urgent efforts to contain the exploit. Following the discovery of the illicit actions, they put a stop to them within nine minutes and told consumers that any and all payments that were misplaced would be reimbursed in full. A compensation package consisting of 0% fees and $100,000 in platform credits will also be provided to customers who have been affected. At the same time, Thunder Terminal has been in communication with the Federal Bureau of Investigation and is in the process of adopting additional security measures, such as two-factor verification for withdrawals.
A statement was published by the hacker that questioned the safety of user information, which is in contrast to the promises provided by Thunder Terminal. In order to delete all of the user data, they sought a ransom of fifty ether, which is equivalent to around one hundred and ten thousand dollars. An additional degree of complication has been added to the case as a result of the hacker's demand and allegation, which raises questions about the scope of the data breach.
Additionally, Thunder Terminal has said that it intends to take legal measures to the maximum extent of the United States court system in the event that the exploiter does not comply with its demands, despite the fact that it is open to talks for the restoration of user monies. The proactive approach taken by the platform in both the security and legal domains exemplifies its dedication to the protection of its users and the implementation of ethical procedures in the face of vulnerabilities in cybersecurity.
Image source: Shutterstock