Slovak cryptocurrency exchange ETERBASE discloses $5.4 million hack – Digitalmunition




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Published on September 10th, 2020 📆 | 3485 Views ⚑

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Slovak cryptocurrency exchange ETERBASE discloses $5.4 million hack


ETERBASE, a Bratislava-based cryptocurrency exchange, disclosed this week a security breach. The exchange said hackers breached its internal network and stole cryptocurrency funds worth $5.4 million.

The incident, which was disclosed on Thursday, involved the theft of various cryptocurrencies from the company’s hot wallets.

Hot wallets are cryptocurrency accounts that are actively connected to the internet and which ETERBASE was using 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.

In a series of messages posted on its Telegram channel, the company said it detected the attack but could not stop it from taking place.

Nonetheless, ETERBASE said it tracked the transactions as they left its wallets, and is currently tracing the stolen funds as they move around their respective blockchains.

ETERBASE has also already contacted exchanges where the stolen funds have landed and requested that its stolen assets are frozen.

Currently, all transactions on ETERBASE have been suspended until September 10, but the company said it planned to resume operations and reassured users that it had enough reserve funds to continue operating.

Law enforcement was also notified, the company added.

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