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Slovak ETERBASE exchange admits to a $5.4 million hack

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Recently, digital currency exchange ETERBASE reported that its hot wallet was comprised. The exchange has confirmed in its latest report that a total of $5.4 million were lost to the hackers. Further investigation has shown that a significant percentage of the stolen cryptocurrencies are held in major exchanges like Binance.

ETERBASE exchange halts operations

At the beginning of the week, the Bratislava-based ETERBASE exchange admitted that hackers compromised its hot wallets, heading away with customers crypto assets. At the time, the exchange said most of the stolen cryptos were popularly-traded ones such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), TRON (TRX), Tezos (XTZ) and other assets.

Consequently, ETERBASE exchange entered an emergency maintenance mode, halting all the operations on the platform to examine the hack. Having reported the incident to the law enforcement agencies, the exchange assisted in the investigations which led to the discovery that only $5.4 million was lost in the hack.

Binance assists to recover lost fund

More so, ETERBASE exchange tweeted that the discovered a significant amount of the stolen cryptocurrency is being held in crypto accounts on popular exchanges like Binance, Huobi, and HitBTC. As ETERBASE called on the exchanges to assist in the investigation, Changpeng Zhao, the CEO of Binance said their “security team was on this quite early,” and will do what we can to assist.

While addressing one of the major fear or questions in the minds of customers concerning their funds, ETERBASE exchange said in the announcement:

“We want to inform our users that we have enough capital to meet all our obligations. At the same time, we want to reassure everyone that this event won’t stop our journey.”

For the meantime, the operations of the exchange will remain closed until the on-going security audit is completed. No specific date was given, however, the exchange said it will resume as soon as possible.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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