Bitcoin News

Taringa Hacked (‘Latin America’s Reddit)

The hackers have made the database containing email addresses, nicks and encrypted passwords. Any phone numbers and access credentials from other social website networks have been not compromised as well as addresses of bitcoin wallets from the Taringa program. Login details for nearly all of the site’s users were compromised.

Taringa  often called ‘Latin America’s Reddit’, has suffered a massive breach of user data. The social site was initiated in 2015 to pay users for content production using Bitcoin. The site is working as partner with Xapo to create digital wallets for content producers, and then began funding them with Bitcoin for participation.

Course of Action

Now Taringa is alert and enhanced cyber security measures. It was using an aging encryption system for passwords called MD5. The hackers were able to crack 95% of the 27 mln passwords within just a few days. Users should move Bitcoin balances into other wallets for protection. Especially if they had used the same password for their wallet as for their Taringa account.

Wallet balances of the individual users will likely be low, but the massive hack of data may well allow access to those wallets. With prices having increased dramatically since 2015, the original payments that remained intact are likely of some substantial value. Taringa has assured customers that wallet addresses were not compromised, though the surety of the promise remains in question. Definitely reputation of Taringa is under question mark.

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Nidhi Gupta

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