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Home»HACKING NEWS»Cryptocurrency exchange Remitano hacked worth over $2.7 million
HACKING NEWS

Cryptocurrency exchange Remitano hacked worth over $2.7 million

By Crypto FlexsNovember 27, 20232 Mins Read
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Cryptocurrency exchange Remitano hacked worth over .7 million
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  • Suspicious transactions involving $2.7 million were detected at Remitano.
  • Tether froze addresses believed to be associated with the attackers.
  • The deal was flagged by Cybers Alerts, a platform that provides real-time security alerts.

Some suspicious activity has been reported on Remitano, a cryptocurrency exchange platform based in Seychelles. Notably, the platform has seen significant withdrawals, with a single account having $2.7 million worth of cryptocurrency taken out of its wallet on September 14th.

Tether took steps to freeze addresses believed to be associated with the attackers, potentially protecting $1.4 million in customers’ cryptocurrency assets.

What’s happening in Remitano?

At approximately 12:45 p.m. on September 14, a transfer was initiated from the Remitano hot wallet, known only to the platform, to an address with no previous transaction history.

The transfer consisted of approximately $1.4 million worth of Tether (USDT), $208,000 worth of USD Coin (USDC) stablecoin, and 104,000 Ankr tokens, then worth $2,000. All these assets were moved to address 0x74530e81E9f4715c720b6b237f682CD0e298B66C1.

Blockchain company Cybers has since issued a warning about these suspicious transactions, but Remitano has yet to issue an official statement on the incident.

🚨ALERT🚨Detected by ML-based system.
Multiple unusual transactions @Remitano
The exchanges resulted in losses totaling $2.7 million across three.
chains.

I have contacted the team to prevent further losses.
We begin efforts to recover funds suspected of being stolen.#CyberAlert pic.twitter.com/lug03WzNh9

— 🚨 Cybers Alerts 🚨 (@CyversAlerts) September 14, 2023

The cryptocurrency industry faces a growing threat from hackers who are constantly adjusting their tactics to exploit vulnerabilities and steal digital assets. As hacking attacks become increasingly sophisticated, companies operating in the cryptocurrency sector are advised to modernize their cybersecurity systems to protect themselves from such malicious activities.

Accordingly, Nikesh Arora, CEO of Palo Alto Networks, highlighted the rapid evolution of hackers and emphasized the importance of companies actively strengthening their cybersecurity protocols. In an interview with CNBC’s ‘Mad Money,’ Arora emphasized the need for businesses to stay one step ahead of hackers.


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