Hacks and security breaches happen on an almost daily basis. Cryptocurrency exchange hacks, in particular, are even more damaging since space is already seen with hostility across several jurisdictions despite its increasing popularity. While cryptocurrencies such as Bitcoin, Ethereum are themselves secure, it’s the exchanges that fall prey in the hands of malicious actors constantly hunting for vulnerabilities and loopholes.
In the latest development, hackers have managed to compromise a Slovakian cryptocurrency exchange, ‘Eterbase’, and siphoned off with assets worth nearly $5.4 million.
The platform’s official blog post regarding the compromise stated,
“Law enforcement authorities have been informed and we will assist as much as we can in the ongoing investigations. We want to inform our users that we have enough capital to meet all our obligations. At the same time, we want to reassure everyone that this event won’t stop our journey.
Hackers reportedly compromised hot wallets on Monday morning for Bitcoin, Ether, XRP, Tezos, Algorand, and TRON. They then transferred the stolen funds into public wallets of various exchanges that have since been emptied. However, no personal credentials have been stolen.
The exchange further revealed that it has reported the law enforcement for the investigation and assured its clients that necessary steps were being taken to ensure that the amount of their deposit does not suffer any damage as a result of the attack. On its official Telegram channel, Etherebase stated,
“Due to ongoing investigation more details can not be announced currently. Sorry for the inconvenience and please have some patience until we solve the issue.”
The Bratislava-based crypto exchange, which claims to be the first platform fully compliant with European regulations, said that it was under maintenance and after the security audit the operations will resume. It is unclear, at this point, if the exchange will manage to reclaim its user’s funds.