The Bitcoin scams news now show that one hacker stole 336 BTC from the crypto exchange Cashaa. As the exchange said in the news, the hacker tool 336 Bitcoin from one of its wallets which forced the company to stop all crypto-related transactions.
Based in the United Kingdom, the cryptocurrency exchange Cashaa reported that hackers took more than 336 Bitcoin. In response to this, the company stopped all the crypto-related transactions but the prima facia users were apparently not affected by this hack.
A media brief shared with crypto news outlets show that Kumar Gaurav, the CEO of Cashaa, noted that one of their wallets was compromised. Around 336 BTC was stolen by hacker, who also suspects that the person is from east Delhi, India. The company filed a cybercrime incident report to the Delhi crime bureau with acknowledgement number 20807200031555 under the cryptocurrency crime category.
— Cashaa (@yourCashaa) July 11, 2020
Cashaa now suspects that malware was installed onto the computer which was used to make exchange transfers like user withdrawals. The malware also notified the hacker when an employee logged into the account at 1:23 PM on July 10, making two transfers from the wallet. Cashaa was using a wallet from Blockchain.com to store and send the BTC. As Kumar told the media:
“We are still investigating the damage caused by the incident and suspend all the withdrawals for 24 hours. We have called the board meeting to decide whether the company will bear all the losses.”
However, the main concern of Cashaa now is to not allow hackers to sell the Bitcoin on exchanges. A tweet by the company also provided the BTC address (14RYUUaMW1shoxCav4znEh64xnTtL3a2Ek) of the hacker in order to track the movement of the stolen funds. Seeing the pattern of transactions from the reported address lets us see a potential possibility that coin mixture software is used to move the funds and reduce traceability.
Kumar concluded with a statement about incidents happening on exchanges:
“Everyone working in the crypto industry has to work very hard to bring the same level of security which currently an average person has when dealing with a bank account. As of today, hackers are very confident to hack crypto addresses and move it through exchanges that are facilitating such laundering through their systems. Exchanges like these must be shut down and owners of these exchanges should be charged with money laundering facilitation crime.”
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