A senior executive at Kakao, a South Korean internet conglomerate, has filed a lawsuit against the company's blockchain subsidiary, GroundX, for $7.6 million following a hack of the executive's Klip wallet. The lawsuit raises concerns about the security measures implemented by GroundX and highlights the growing concern over the security of crypto wallets integrated into widely used platforms. The stolen cryptocurrency was transferred to overseas exchanges, making it difficult to track and recover. The executive alleges that GroundX failed to implement adequate security measures and is seeking compensation for the total amount lost. The lawsuit underscores the need for stronger cybersecurity protocols in the crypto industry.
- Content Editor ( bitcoinworld.co.in )
- 2024-09-30
Kakao Executive Sues Blockchain Arm GroundX for $7.6M Crypto Wallet Hack