A Slovak Crypto Exchange lost Bitcoin Worth $5.4 Million to Hackers

A Slovak Crypto Exchange lost Bitcoin Worth $5.4 Million to Hackers

A crypto exchange firm, Eterbase, carrying out its exchange business from Solvak, a country falling within European territory, reported to have lost Bitcoin worth US$ 5.4 Million to hackers on this Thusday. The news came into surface and shocked the entire crypto exchange industry, Bitcoin owners as well as other crypto-owners who recorded their concerns that if immediate concrete steps have not been taken by the concerned authorities, then their businesses and investments are at stake.

Eterbase revealed that the cyber-criminals successfully managed to break into the six hot wallets of the exchange in which various crypto assets (such as Bitcoin, Algo, Ripple, Ethereum, Tron and Tezos) worth over US$ 5.4 Million were lying, were completely stolen. The exchange further stated that these hot wallets were active crypto-asset accounts connected with the internet which were used by the exchange for the purposes of facilitating its clients in conducting their day-to-day trading activities from its trading platform. However, generally it is believed that usually the hot wallets are more vulnerable to attacks from hackers and unauthorized access due to the fact that they remain at all times connected to the internet.

In a short statement coming out from the spokesperson Eterbase exchange suggested that the exchange has informed the concerned law enforcement agencies who are in close contact with the officials of the exchange in order to capture the culprits. However, the exchange has ensured all its clients and potential investors that it has enough resources available to it in the form of capital in order to meet their obligations due towards them.

Soon after the hack caused to Eterbase, the exchange immediately suspended all requests of withdrawals and deposits including the activities relating to trading which it has committed to resume once the complete audit of the security system of the exchange takes place.

Following the events later on, it has been claimed by Eterbase on its official twitter account that a large piece of looted money has been deposited with other crypto exchanges namely Hitbtc, Binance and Huobi. A contact has been established between these exchanges and Eterbase to freeze the funds.

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