Popular Turkish crypto exchange Sistemkoin proves to be working great after reporting a $68 million in volume over the past 24-hours, however, according to a user report reaching into our blockchain news, the exchange faces serious security problems.
The report says that there are two aspects to security issues. The first notes that anyone with a program called Burpsuite and a Sistemkoin account is able to compromise the support tickets of other users and allegedly the exchange was notified of the problem but never responded.
The other aspect shows that the most tickets were related to withdrawal problems. This could be a consequence for not following basic security practices.
Withdrawals are the most important element of a crypto exchange because it proves that the customers can rely on the exchange. On the annual event named ‘’Proof of Keys’’, the validity of exchanges is tested. Major exchanges such as Binance have it easy on these days since their business model and software is properly written.
The problem is that the tickets seem to be ignored and as one analyst said:
‘’While browsing Sistemkoin.com, I found a few critical vulnerabilities where I was able to view and comment on support tickets of any user of the exchange. As they didn’t respond I went through few support tickets and found that most of support tickets are about users complaining as they weren’t able to withdraw tokens.’’
This means that a user on the platform simply replaces the ticket number with the number of another support ticket which makes easy for hackers to understand the full process and get a hold of the data. The analyst said:
‘’While viewing the support ticket, the attacker intercepts the request to the server and changes the support ticket ID parameter to victims support ticket using any tool like burp suite.’’
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“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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