Steemit Breach: Essential Information on Account Safety and Refunds

The Incident: What Happened?

Steemit recently took a hit, announcing that they fell victim to a hacking incident that compromised approximately 260 accounts. If that doesn’t make you cringe, sitting on a splintered toilet seat might! Reports indicate that a staggering $85,000 worth of Steem Dollars and Steem vanished into thin air. Yikes!

CEO’s Assurance

In the wake of this digital catastrophe, CEO Ned Scott reassured users that their accounts and wallets are safe. “User accounts and wallets are not at risk, and we hope to soon reactivate the Steemit website to normal order,” he stated, while possibly crossing his fingers behind his back. Let’s just hope that wishful thinking doesn’t come back to bite them!

Law Enforcement Alerted

Steemit isn’t going down without a fight. They’ve notified their partner exchange, Bittrex, and a slew of law enforcement agencies, including the FBI. Because, you know, when you’re dealing with hackers, calling in the big guns is a necessity!

Steps to Recovery

Just a few hours after the breach, Steemit sprang into action! They coordinated with elected witnesses to secure compromised accounts that had balances over $100. Ned Scott further announced, “Within the next 48 hours, Steemit will begin to allow all newly secured accounts to reset their passwords simply by logging in with the same Facebook or Reddit credentials used to register in the first place.” Talk about a digital lifebuoy! Most users will be able to regain both access to their accounts and the funds.

User Refunds and Precautions

Bittrex, in a preemptive move, temporarily suspended deposits and withdrawals of Steem and Steem Dollars. Steemit advised users to contact their support team if their account wasn’t created through social media platforms. If you did, don’t sweat it! You’ll be able to log in using those same old credentials within 48 hours. As Ned reassured, “Any Steem or Steem Dollars stolen from compromised accounts will be fully refunded by Steemit.” Now that’s what we call a solid commitment!