Home Altcoin Hackers reportedly stole nearly $10M worth of Ripple (XRP) in GateHub hack

Hackers reportedly stole nearly $10M worth of Ripple (XRP) in GateHub hack

Another day, another cryptocurrency heist. Hackers have breached over 100 Ripple $XRP▲4.27% (XRP) Ledger wallets managed by service provider GateHub. If that wasn’t bad enough, additional reports suggest the attackers have siphoned off more than $100 million worth of XRP.

“Recently, we have been notified by our customers and community members about funds on their XRP Ledger wallets being stolen and immediately started monitoring network activity, and conducted an extensive internal investigation,” wrote GateHub chief Enej Pungercar. Unfortunately, the company has yet to identify what caused the issue.

GateHub say it’s in the process of reviewing the suspicious activity, but no official conclusions have been posted at the time of writing.

“At the moment we estimate that approximately 100 XRP Ledger wallets were compromised,” Pungercar added. “So far it looks like all the victims had their XRP Ledger wallets hosted on GateHub, but we cannot yet rule out that some wallets were not.”

XRP enthusiast Thomas Silkjær, who first noticed the suspicious activity, estimates that the hackers have thieved nearly $10 million worth of cryptocurrency (23,200,000XRP), $5.5 million (13,100,000XRP) of which  has “already been laundered through exchanges and mixer services.”

Among other services, the attackers relied on Binance, Changelly, KuCoin, Huobi, and HitBTC to convert the funds.

Credit: Thomas Silkjær

In the meantime, GateHub says it has emailed all users possibly affected by the theft with instructions how to protect their funds. “If you have not received an email from us, then we have no reason to believe your account was compromised,” the company added.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Staking: these are the 5 preferred cryptos for passive profits

Staking has been called in various ways, some accurate, others not so much. This has also happened with PoS,...

United Kingdom forces to block cryptocurrency advertising

The advertisements of the company Luno will be withdrawn from the United Kingdom after the resolution that obliges them to do so...

Cryptocurrencies find some relief after their crash

Cryptocurrencies find some support for a bounce after one of the toughest weeks for investors. Although last Thursday we...

China Strikes Cryptocurrencies Again, Bitcoin Slumps Again

The highest level of government in China has proposed new measures to regulate mining in the country. The proposal has been received...

Bitcoin on the Playstation? Sony’s patent finally accepted

On May 17, 2021, the publication of a patent by Sony Interactive Entertainment mentioning Bitcoin was greeted with great fanfare by the...