October 19 2018

Bitmedia Data Breach

On October 16th 2018, Bitmedia users have experienced delays in the work of the system. These were caused by a data breach, that had occurred earlier that day.

Nevertheless, Bitmedia security algorithms, developed by a team of tech professionals worked well, as well as the tech team themselves, who triggered the interlocking of crypto wallets and databases, thus preventing the valuable assets from leakage. On the user side this resulted in freezing the bitcoin withdrawals and payments, as well as the access to data, that contains sensitive information regarding the users of the platform.

Due to the technological advancements, implemented in Bitmedia advertising platform, less than 1% of the accounts suffered from financial vulnerability, while 12% of accounts have gone through email leakage.

Bitmedia’s CEO, Matvey Diadkov, commented on the following situation:

“During the data breach last week we have witnessed a strong collaboration of our customers and the team. Responsiveness, support and client willingness to help are of a great importance for Bitmedia.IO team. Our product experts have come to grips with the threat and most of our systems are operating in full capacity right now. Last week events have been a great lesson for my team and me, showing that despite being advanced in terms of security, there’s always a room to improve”.

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