Bitcoin, Crypto Mining News, Cryptocurrency, Fraud and Scams

Hackers Attacked European Exchange

September 9, 2020

Eterbase has been hacked, losing jaggedly $5.3 million; from a recent announcement from the Slovakia-based digital currency exchange, Eterbases’s hot wallet was penetrated, and six digital currencies – BTC, ETH/ERC-20, XRP, TRON (TRX), Tezos (XTZ) and Algorand (ALGO) – were stolen. After the hack has happened, Eterbase publicized that they had suspended the trading and withdrawals from their platform up until September 10.

What was embezzled?

Eterbase declined to say the exact amount of money that was stolen from the exchange; they named the wallets that had been breached instead and said that,

“We have contacted all centralized exchanges that might be receiving these illicit funds. Due to an ongoing investigation, more details cannot be announced. Sorry for the inconvenience and please have some patience until we solve the issue.”

On the other hand, according to The Block Research, $5,323,517 was stolen in total. $3,945,664 was stolen from the ETH/ERC-20 wallet, $471,559 was stolen from the XTZ wallet, $406,620 was stolen from the ALGO wallet, $339,573 was stolen from the XRP wallet, $114,954 was stolen from the BTC wallet, and $45,148 was stolen from the exchange’s TRX hot wallet.

What is Eterbase?

This breach’s story is still developing, as not much is known about Bratislava, Slovakia based exchange. It was not on anyone’s radar until the hack happened. CoinGecko stated that the exchange processes roughly $3 million a day in trading volume. Judging by the looks of their web statistics and social media followers, the business has a relatively small community.

Eterbase’s Next Step

“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.”

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