Cyber Hacking News

Cryptocurrency exchange ETERBASE reveals $5.4 million hack

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Slovak cryptocurrency exchange ETERBASE disclosed a security breach in which the hackers stole cryptocurrencies worth $5.4 million. The threat actors managed to get away with various cryptocurrencies compromising its hot wallets.

Hot wallets are cryptocurrency accounts which are actively connected to the internet and is used by ETERBASE to power its inter- and intra-currency exchange operations.

Funds were stolen from six hot wallets, storing Bitcoin, Ether, ALGO, Ripple, Tezos, and TRON assets.

The company announced the hack on Twitter and through a series of messages posted on its Telegram channel.

The company notified law enforcement authorities and the investigation process is going on. They have also assured all the users that they have enough capital to meet all the obligations and that the deposit of the clients does not suffer any damage due to the hack.

ETERBASE could detected the attack but was not able to block it.

They also stated that the fraudulent transactions have been tracked and is following the stolen funds. They also contacted the exchanges where the stolen funds were moved to prevent the attackers from cashing them out.

Currently, the exchange has suspended all the transactions until September 10. However, they planned to resume operations and reassured users that it had enough reserve funds to continue operating.

Image Credits : CryptonewsZ

Priyanka R
Cyber Security Enthusiast, Security Blogger, Technical Editor, Author at Cyber Safe News

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