Social Media’s Taringa Hacked – Bitcoin Wallets At Risk

Crime, News | September 5, 2017 By:

Social media site Taringa, a Latin American version of Reddit that used bitcoin for content production rewards, has been hacked. The site estimated some 27 million account holders potentially had passwords compromised in the last few days.

The hack was possible because the site used MD5, an outmoded encryption system for passwords. The site is partnered with Xapo to create digital wallets that hold the rewards for content producers. While most balances will be low, those who have not moved their holdings in some time will potentially lose a substantial amount from even a tiny bitcoin holding.

While Targinga claimed the Xapol wallets were not compromised, users are being advised to move their bitcoin holdings to another wallet and change any passwords that duplicated their Taringa account.

“It is likely that the attackers have made the database containing nicks, email addresses and encrypted passwords,” said the Taringa statement. “No phone numbers and access credentials from other social networks have been compromised, as well as addresses of bitcoin wallets from the Taringa program.”