Cryptocoin broker says 2FA bypass led to $35m theft


Maltese cryptocoin broker Foris DAX MT Ltd, better known by its domain name, experienced a multi-million dollar “bank robbery” earlier this month.

According to a brief security report published yesterday, 483 customers experienced ghost withdrawals totalling just over 4800 Ether tokens, just over 440 Bitcoin tokens, and just over $66,000 in what are listed only as “other cryptocurrencies”.

Using approximate conversion rates for 17 January 2022 (ETH1=$3300 and BTC1=$43,000), which is when the spurious transactions were spotted, puts the total loss due to this heist at about $35,000,000.