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Binance will ‘do what they can’ to help recover funds stolen in yesterday’s $5M Eterbase hack
Whether CZ is coming to the rescue or not remains to be seen.
Eterbase, a Slovakia-based crypto exchange, was recently the victim of a $5M hack. According to an update from Eterbase, some of these funds appear to have ended up on a number of popular exchanges, including Binance, Huobi Global, and HitBTC.
Binance CEO’s Changpeng Zhao, or CZ, seemed to support efforts to stop the circulation of these stolen funds, replying:
“Our security team was on this quite early. Will do what we can to assist.”
Through Telegram, Eterbase also published a list of the hot wallets compromised by the hack. These included Bitcoin (BTC), Ehereum (ETH), Tron (TRX), Tezos (XTZ), Algorand (ALGO), and Ripple (XRP) addresses.
As of press time, no representatives either from Huobi Global and HitBTC have issued public comments on the matter. However, Eterbase clarified that they’ll continue running operations as usual and will keep users updated on the matter.
In an article published by Cointelegraph on August 9, researchers showed that attacks against crypto exchanges largely fall into three categories: an insider attack, an attack exploiting the relationship between an exchange and a customer, and an extraction of portions of secret keys.
Back in 2018, Japanese cryptocurrency exchange Coincheck was the victim of a massive hack resulting in a loss of 523 mln NEM coins, worth approximately $534 mln. These coins were also stolen via several unauthorized transactions from the exchange’s hot wallets.
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Cybersploits Recovered more than $100,000 in stolen cryptocurrency from malicious actors, taking part in research and development of remediation efforts alongside CTO and Director of Engineering to prevent future attacks. A big thanks to Cybersploits for helping get my stolen cryptocurrency back.
I was aware of the risk of theft when I started investing in cryptocurrencies. I knew they were considered a high-risk investment and even heard about the occasional hacking, but I didn’t take any measures to protect my coins because I thought cryptocurrency was safe. Thanks for recovering my stolen cryptocurrency
I have been a cryptocurrency investor since 2011, and I have not had any significant problems with my coins or exchanges. I know there is a lot of infighting in the community, but no one can deny that there are crime syndicates working day and night to steal coins from us. The problem is they are getting better at it every year. It is sad to see so many people lose money that they worked so hard for, but this makes me appreciate the work I have put in even more because if it wasn’t for the amazing community that supports this entire space then we wouldn’t be here today!