A Sydney man’s plan to retire at 58 has backfired after he logged into his retirement account one day to discover a devastating truth.
Manu Kundra and his wife Shallu, 49, were devastated when they logged onto their cryptocurrency exchange in May last year to check how it was going.
“Initially I was going to have to work ’til 58, now I’m going to keep working ’til 65 [because of the loss to my superannuation],” Mr Kundra told news.com.au. The dad-of-two started an account with Independent Reserve, an Australian cryptocurrency exchange, in 2017 when blockchains started soaring in value.He owned 0.25 bitcoin, 35 ethereum tokens and 40 litecoins.
The hacker had got into Mr Kundra’s account, which he was using as part of his superannuation funds, and changed the passwords and set up two-factor authentication to lock him out. The Sydney family man initially had no idea how the hacker had hijacked his account and was worried his devices had been infected with malware, including spyware that was tracking his keyboard strokes.He later discovered the email address linked to his cryptocurrency account had been compromised in a widescale data breach that one million other people were also involved in.Mr Kundra didn’t reap any rewards from cryptocurrency’s bull run last year in a huge blow to his finances.
“We are not responsible or liable for any unauthorised access to, or use of, your Account except to the extent we have failed to take reasonable steps to secure the Platform.”
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