A worrying announcement was posted on the Litecoin subreddit yesterday, as it turns out unidentified assailants have compromised the LitecoinTalk forums. All users had to reset their passwords to ensure account safety, and further details of the breach remain vague at this point. Coincidentally, this hack comes at a time where the Litecoin price is seeing upward momentum for the first time in months.
LitecoinTalk Breach Details Are Scarce
A small panic broke out late last night when the announcement regarding the LitecoinTalk forum breach was reported. Right now, no one is any wiser as to how the assailants managed to gain access to the forum database, but there is a very likely chance of the entire forum database being accessed by unauthorized parties.
While all of the user passwords were hashed – according to this post at last – there is no guarantee they could not be cracked. This is part of the reason the LitecoinTalk forum admins decided to force a password reset for all users, as it seemed to be the safest option to go about things.
For the time being, the LitecoinTalk forums have been shut down completely, and the admins are conducting a complete investigation as to what happened exactly. This attack is once again a clear example as to why people need to use different passwords for every website.
The results of this investigation will be made public once everything has been figured out. It could take a few days – or weeks – until the full extent of this attack have been revealed. One of the more recent comments on the Reddit thread mentioned how the situation seems to be “really bad” right now.
Speculation as to what has happened with the LitecoinTalk forums is useless right now, as there is no reason this data breach should have taken place to begin with. Very little has been going on with Litecoin in recent months, and this hack comes at a time where the Litecoin price has seen some upward momentum for the first time in a while.
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.