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ZB.com lost around $4.8 million during the suspension of its services

ZB.com
TL;DR Breakdown

• Exchange crypto suffered one of the biggest virtual heists
• Criminals stole more than 21 tokens from ZB.com, affecting a large part of its investors

The security company focused on Blockchain networks, PeckShield, recently indicated that $4.8 million in crypto were stolen through ZB.com. This occurred while the exchange announced that transactions would be suspended.

Crypto trading continues to grow, although lately, it has been posed as a means of scams that affect crypto investors. ZB.com called itself one of the most secure exchanges in the virtual industry, but many people question its operation.

PeckShield accusations against ZB.com

ZB.com

PeckShield reported that hackers extracted around 21 tokens such as USDT and SHIB, which are about $4.8 million in stolen cryptos.

The theft occurred after the crypto exchange said it would suspend its transactions due to system failures. Also, the crypto company told its users not to deposit or withdraw money to avoid problems.

The ZB.com exchange claims to be the most secure crypto platform in the virtual industry. The company has been working in China since 2013, although to date, it has kept the name of CHBTC.com. In the third quarter of 2017, the crypto exchange suspended operations after the Beijing regulatory authorities demanded it.

Crypto thefts

ZB.com

According to the researchers, the crypto industry has suffered various thefts during the last season, causing millionaire losses. In June, the Horizon Bridge company had problems due to the extraction of $100M, which cost it its reputation.

In the first week of August alone, hackers have managed to mine more than $200M worth of crypto from Nomad, a connection company. The criminals are still active with thefts even though the crypto market maintains its bearish streak.

Although the theft from ZB.com is recent, it is also not to overshadow the withdrawal of funds to the Solana Wallet less than 24 hours ago. Solana Wallet users reportedly protested on Twitter that their funds were lost. According to the investigations, more than 7000 SOL wallets were affected by the theft.

All these thefts strengthen the theory that cryptocurrencies are not safe, as regulators have argued for several years. However, it must also be taken into account that it is a problem for the company that offers encryption services because they have a questionable level of security. For now, ZB.com is being investigated, and soon it will be shown how much participation it had in the theft.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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