Hackers Stole $9.7 Million in XRP Cryptocurrency From Gatehub Users

Hackers Stole $9.7 Million in XRP Cryptocurrency From Gatehub Users

Unknown hackers stole 23.2 million XRP tokens worth $9.7 million from users of the Gatehub cryptocurrency platform. The incident report was published by a member of the XRP Forensics cybersecurity development team, Thomas Silkjær.

On June 1, Silkjær discovered the theft of 201,000 XRP coins. During the investigation, it was possible to establish that the money belonged to users of the service Gatehub. Thomas contacted the site staff and reported a possible hack. Together with his teammates, he managed to identify 12 addresses of crypto wallets, to which the stolen tokens were derived. In total, the attackers have stolen about 23.2 million XRP and have already managed to withdraw 13.1 million tokens using mixers, crypto exchanges, and exchange offices.

Source: medium.com

Criminals used Kucoin, Huobi, Exmo, HitBTC, Binance exchanges and Alfacashier, Changelly and Changenow exchange offices to cash out cryptocurrency.

At the moment there is no exact information on how hackers managed to get access to the wallets of Gatehub users. Silkjær checked seven possible options, but none of them was confirmed in practice. He analyzed the logs of the victims of the hacker attack and concluded that the Gatehub accounts were not hacked. Phishing, because emails with fake links were not sent to email. Hackers could not find out the data for logging in to the accounts of the clients of the service due to a vulnerability in the user interface since the victims live far apart and open the site in different browsers.

Most likely, the hacking of the platform was due to a database leak. Gatehub stores private keys from the wallets on the server, so attackers could theoretically copy them. There is also a hypothesis that hackers used the hacking method by selecting logins and passwords (“brute force”) with the use of additional one-time numbers.

Thomas advises all victims to contact the law enforcement authorities. The XRP Forensics development team is now trying to contact all the victims.

We want to remind you:

Top 10 Loudest Cryptocurrency Hacks in the History

Leave a Reply

Your email address will not be published. Required fields are marked *