Eterbase Cryptocurrency exchange hacked; hackers steal $5.4 million worth of cryptocurrencies


Unknown hackers hack into Eterbase cryptocurrency and steal cryptocurrencies worth $5.4 million

Recently, there has been a spurt in hacking attacks on cryptocurrency exchanges much like 2014 when big exchanges like Mt.Gox were hacked. In the past few months, we have had hackers hacking into Coincheck a Japanese cryptocurrency exchange, and 2Gether cryptocurrency exchange. The latest one to be hacked is a Europe based cryptocurrency exchange called Eterbase.

Eterbase announced on 8th September 2020 that it has was hacked by unknown hackers who managed to steal Bitcoins, Etherums, Tezos, ALGO, Ripple, and TRON cryptocurrencies worth $5.4 million. Eterbase posted a message on Telegram detailing the wallets that were used by the hackers to steal the cryptocurrencies.

Eterbase is based in Slovakia and the majority of its users are from the countries in Eastern Europe. The message posted by Eterbase says Ether worth $3.9 million was stolen by the hackers.

Since the hack attack, the Eterbase cryptocurrency exchange website has been disabled and users will get a website under maintenance message. Eterbase says that it was working with the Slovakian law enforcement agencies to investigate the data breach. Eterbase says that it is cooperating with investigators, and “wants 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.”

Eterbase today put out a tweet saying that hackers had transferred the stolen funds to Binance, HitBTC, and Huobi cryptocurrency exchanges. Eterbase has requested their cooperation to freeze funds and thwart any attempts by the hackers to cash out their loot.

Hackers targeted Eterbase hot wallet using an unknown vulnerability. A hot wallet refers to a Bitcoin wallet that is online and connected in some way to the Internet. It is a term that refers to cryptocurrencies that are not being kept in cold storage. Cryptocurrency exchanges often use hot wallets to enable their patrons to deposit and withdraw cryptos instantly. The majority of known cryptocurrency hacks have involved stealing funds from hot wallets. 

We will keep you updated on this story.



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"The Internet is the first thing that humanity has built that humanity doesn't understand, the largest experiment in anarchy that we have ever had." Eric Schmidt

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