Little Known Slovakian Based Exchange, ETERBASE, Suffers A $5 Million Hack On Its Hot Wallets

  • European crypto exchange, ETERBASE, suffers a $5 million hack as attackers compromise its hot cryptocurrency wallets.
  • The Slovakian exchange announced a halt to its deposits and withdrawals on Monday, September 7, hours before the hack was officially announced.

An unfortunate $5 million hack on little-known Slovakian-based exchange, ETERBASE, occurred on September 8th as its hot wallets were compromised, the exchange announced on its Telegram page. The attack seems to have started on Sept. 7 after the exchange suspended all the EUR SEPA bank transfers withdrawals at 6.40 PM GMT +3.

The message read,

“We apologize for ongoing inconveniences, EUR SEPA withdrawals will be disabled approximately until 10th Sept 2020. If you wish to cancel your pending withdrawals, please, contact the support.”

A follow-up message at 10.07 AM GMT +3 on Tuesday, Sept. 8 confirmed ETERBASE had suffered an attack on ETH/ ERC-20, Tron (TRX), Tezos (XTZ), Bitcoin (BTC), XRP, and Algorand (ALGO) tokens hot wallets. According to a research by BEG on the wallet addresses provided, close to $5.5 million in token value was stolen from ETERBASE during the hack.

Addresses for the Hacks:

  • ETH Address: 0x7860F7b2874e77E80bE0fC6EbfB9414f89781aD9
  • TRX Address: TPdhhbCHqXzrDyUiQnHApS7VL2UxB8Qhna
  • XTZ Address: tz1hnoxVgc8Z1DUa6D18EUkPCXmNbaHwmLRc
  • BTC Address: 1ANLZZ2YFGumRXaD3EMii92zWQgvX2CK9c
  • XRP Address: rNwgkFj6QadEXUyS1jgTD2XEsi8HanKzDX

ERC-20 wallets faced the largest losses with $3.9 million take from the exchanges hot wallet. Tezos (~$471k), ALGO (~$406k), and XRP (~$340k) represent other wallets that faced severe losses.

According to their Telegram message, most of the tokens stolen from the exchange was sent to other centralized exchanges. The ETERBASE team is currently in contact will all centralized exchanges that “might be receiving these illicit funds.”

Furthermore, the exchange has contacted relevant authorities on the hack, who have begun their investigations. The exchange promises users that they are working to ensure the deposits by the users are not affected due to the hack.

“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 the hacker attack,” a recent message from ETERBASE reads.

More details will be provided by the exchange as the story develops.

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