Cryptocurrency enthusiasts have been affected by a new cybersecurity incident. Cybersecurity specialists report that Eterbase, a Slovakia-based exchange platform, was the victim of a cyberattack that would have led to million-dollar losses.
Cybercriminals broke into the small platform’s networks looking to extract Bitcoin, Ethereum, TRON, Tezos, among other cryptocurrency variants, stealing up to $5.4 million USD.
Eterbase is an emerging platform that records trades for up to $3 million in a day, according to a firm specializing in virtual assets. According to the report, the morning the incident occurred hackers compromised some users’ hot wallets, allowing them to empty their accounts. Nenad Ristic, head of public relations at Eterbase, notes that users’ personal information was not compromised.
The stolen assets were sent to multiple trading platforms. For example, Ethereum drives ended up in some Uniswap and Binance accounts.
Through its Telegram channel, Eterbase mentioned that local authorities have already been notified, so a thorough investigation will be conducted: “We are cooperating closely with law enforcement agencies; we want to assure you that we have taken the necessary measures to ensure that no further damage is presented as a result of this attack.”
Soon after, Ristic added: “The investigation is ongoing, so we can’t share any more details about the incident at the moment. We apologize for the inconvenience caused and ask for patience until the issue is fixed.” As a security measure, the platform suspended its operations until September 10.
Security incidents against cryptocurrency trading platforms have increased alarmingly since the first major coup, which occurred in 2014. In later years, various hacking groups have managed to extract millions of dollars from start-ups and large competitors alike, including Binance, Bithumb, Bitfinex, among other platforms.
Exchange platforms are still looking for the best way to prevent these incidents, although in cases like Binance’s, developers have even implemented security systems for transaction tracking in the event of theft, trying to address any possible scenario.
He is a cyber security and malware researcher. He studied Computer Science at Miami and started working as a cyber security analyst in 2008. He is actively working as an cyber security investigator. He also worked for security companies like Cisco. His everyday job includes researching about new cyber security incidents. Also he has deep level of knowledge in enterprise security implementation.