The Slovakian crypto exchange suffered a targeted hack attack on Monday night.
Crypto exchanges are the favorite targets of cybercriminals because let’s face it, it can make you multi-millionaire within seconds and which is why attacking them is such common practice among hackers.
This time, Eterbase, a Bratislava, Slovakia based cryptocurrency exchange was attacked, and a whopping $5 million were stolen.
The notorious cybercriminals emptied several of its Hot Wallets and stole different types of cryptocurrencies.
Hot wallets are those storages connected to the internet, whereas Cold Wallets aren’t accessible via the internet.
Eterbase confirmed the news on its Telegram and Twitter channels on Tuesday, stating that six hot wallets of the exchange containing ether (ETH), ERC-20 tokens, bitcoin (BTC), XRP, Algorand (ALGO), and Tezos (XTZ) were compromised.
In its official announcement, the exchange has also confirmed assets worth approximately $ 5.4 million were stolen.
According to reports, the majority of the stolen crypto, roughly $3.9m, were stored in ERC-20 tokens and Ethereum. The second most affected cryptocurrency is XTZ since the value of stolen currency amounts to $417,000.
We have reported the matter to law enforcement and we are cooperating closely in the investigation. We want to assure our clients that we are taking all necessary steps to ensure that the amount of their deposit does not suffer any damage as a result of a hacker attack. https://t.co/x7nAgGGeod
— ETERBASE (@ETERBASE) September 8, 2020
The funds were transferred to different exchanges. Reportedly, the ETH funds went into the US’s Stablecoin, Tether, Compound, which is a non-custodial lending protocol, Uniswap, a decentralized exchange, and the centralized exchange Binance.
Eterbase has suspended its trading operations until 10 Sep and has informed all ‘centralized exchanges’ that may receive the stolen funds. The exchange’s statement posted on Telegram read:
“We have reported the matter to law enforcement and we are cooperating closely in the investigation. We want to assure our clients that we are taking all necessary steps to ensure that the amount of their deposit does not suffer any damage as a result of a hacker attack.”
The exchange’s social media channels controller Nenad Ristic stated that personal information wasn’t stolen, and the company has enough funds available to oblige its customers.