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Hot Development: Bitcoin Exchange Hacked! Millions of Dollars BTC Stolen

UK based cryptocurrency exchange Cashaa has become the target of hackers and reported that more than 336 Bitcoins were stolen as a result of the attack.

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Hot Development: Bitcoin Exchange Hacked! Millions of Dollars BTC Stolen.

UK based cryptocurrency exchange Cashaa has become the target of hackers and reported that more than 336 Bitcoins were stolen as a result of the attack. The company stopped all transactions related to cryptocurrencies.

British-based Bitcoin exchange Cashaa hacked!

UK-based Bitcoin and cryptocurrency exchange Cashaa said that hackers stole 336 Bitcoin from one of their wallets. These BTCs cost 3 million 100 thousand dollars at current prices. The company stopped all crypto-related transactions. Cashaa CEO Kumar Gaurav said that one of his wallets was compromised and more than 336 Bitcoins were sent to the hacker. He also suspects that the hacker is from Delhi, east of India. The company gave information about the incident to the Delhi crime bureau under the cryptocurrency crime category with the acceptance number 20807200031555.

Crypto Currency Exchange Hacked
Crypto Currency Exchange Hacked

Cashaa suspects that malware is installed on the computer used to make transfers, such as withdrawals of the user. Malware allegedly informed the hacker when an employee logged into account at 13:23 on July 10 and made two transfers from the wallet. Cashaa used a Blockchain.com wallet to store and send BTC. Kumar Gaurav said on the subject:

WE ARE STILL INVESTIGATING THE DAMAGE CAUSED BY THE INCIDENT AND SUSPENDING ALL WITHDRAWALS FOR 24 HOURS. WE CALLED THE BOARD OF DIRECTORS TO DECIDE WHETHER THE COMPANY WILL BEAR ALL THE LOSSES.

Hackers cut BTCs into smaller amounts as soon as they pulled them out of the wallet

But Cashaa’s main concern is that hackers are allowed to sell Bitcoins stolen on other exchanges. As soon as the hackers pulled BTCs out of the wallet , they divided the amount into smaller wallets , making it harder to follow. Kumar Gaurav said that hackers are daring because they are certain that some exchanges will launder money, and such exchanges must be closed. Kumar Gaurav also criticized them with a harsh language, stating that these exchanges caused an increase in hacking events. Kumar Gaurav adds to his statements on the subject:

EVERYONE WORKING IN THE CRYPTO INDUSTRY HAS TO WORK HARD TO MAINTAIN THE SAME SECURITY THAT AN AVERAGE PERSON CURRENTLY HAS WHEN DEALING WITH A BANK ACCOUNT. AS OF TODAY, HACKERS ARE VERY CONFIDENT THAT IT WILL HACK CRYPTO ADDRESSES AND TRADE WITH EXCHANGES THAT MAKE IT EASIER TO LAUNDER SUCH MONEY THROUGH THEIR SYSTEMS. SUCH EXCHANGES SHOULD BE CLOSED AND THE OWNERS OF THESE EXCHANGES SHOULD BE CHARGED WITH MONEY LAUNDERING FACILITATION.

Crypto Currency Exchange Hacked
Crypto Currency Exchange Hacked

Exchanges such as Binance, CoinDCX, WazirX and Bitbns supported Cashaa

Investigation agencies, including the Delhi Police Cyber ​​Crime department, have already seized the issue. In addition, all crypto exchanges were informed about the hacker address to prevent laundering BTCs from laundering. Almost all exchanges supported Cashaa in tracking addresses and reporting suspicious transactions. In addition, the CEO of the Exchange thanked Binance for their quick support to exchanges such as CoinDCX, WazirX and Bitbns in India and said:

WE ARE HAPPY TO SEE THE RAPID SUPPORT OF ALL MAJOR EXCHANGES SUCH AS COINDCX, WAZIRX AND BITBNS IN INDIA, AS WELL AS INTERNATIONAL EXCHANGES SUCH AS BINANCE. WE WANT TO SEND A STRONG MESSAGE TO HACKERS THAT THEY CAN’T HACK BITCOIN, THINKING THAT THEY CAN MAKE MONEY.

“We will assist Cashaa in every way and try to set specific security standards for exchanges,” said Nischal Shetty, founder and CEO of WazirX, an Indian-based cryptocurrency exchange. said. 

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