TLDR Breakdown:
- EXMO exchange, in the United Kingdom, has reported a security breach that resulted in the loss of about five of its customers’ assets.
- Investigations on the matter are still ongoing, and it’s estimated that about $10 million was lost in the attack.
- Meanwhile, the exchange’s cold wallet wasn’t affected.
The UK-based cryptocurrency exchange and trading platform, EXMO, confirmed on Monday a recent cyber incident that resulted in an authorized transfer of digital currencies belonging to customers. Some of the stolen cryptos include Bitcoin (BTC), Ether (ETH), Ripple (XRP), and others.
Although EXMO exchange failed to disclose the exact funds lost by the attacker, it is estimated that the stolen cryptos worth over $10 million.
EXMO exchange surfers cyber attack
The UK exchange learned about the incident earlier today, at exactly 2:27:02 UTC, as large authorized funds were spotted being transferred from their hot wallet. EXMO exchange intercepted further withdrawals and redeployed hot wallets according to the announcement today. However, almost five percent of its assets were already withdrawn from the wallets.
By tracking the funds through the addresses provided by the crypto exchange, it’s estimated that about $10.5 million has been drained from the exchange. Also, the hacker(s) moved a majority of the stolen cryptocurrencies to the Poloniex exchange. While investigations are currently ongoing, EXMO exchange said it had filed a report with the London police about the incident today.
Cold wallets are safe
Meanwhile, the exchange users need not worry as EXMO noted in the report that it would cover any incurred by the user amid the security breach. “Most importantly, we want to assure you that if any user fund is affected by this incident, it will be covered completely by EXMO,” the exchange said. Only the hot wallet was affected in the attack. EXMO also stressed that its cold wallets were not compromised.
