Steemit, a blockchain powered social media platform, has announced that account recovery is now available for community members whose accounts were compromised during the July 14 hack.
The platform recently suffered a cyber attack that resulted in nearly 260 accounts getting compromised and theft of around $85,000 worth of Steem Dollars and Steem (initial estimate). The hack was contained soon and Steemit CEO Ned Scott said that user accounts and wallets were not at risk.
In a latest post, Scott lists the various steps that are needed to be completed by the users for them to recover their account. He said that Steemit will be unable to recover an account unless the user knows a password that was valid within the past 30 days.
The announcement follows the recent release of “Groundbreaking Account Recovery Solution” by Steemit. Co-founder Dan Larimer said that the solution is completely new in the cryptocurrency space and will raise the bar for security on all platforms.
“Please note that due to our implementation of enhanced blockchain security, new passwords must be 32 characters long. Ensure you use a combination of upper and lower case letters, numbers, and symbols. We recommend using a password manager (pcmag.com)”, Scott added.
He further said that the team is currently finalizing the analysis of the cyber attack and determining exactly how much Steem and Steem Dollars were stolen from each account. Once completed, the Steemit will reimburse every compromised user, Scott said.