Crypto exchange Cashaa loses $3.1 million worth bitcoins to hackers.

The London-based crypto exchange Cashaa lost 336 bitcoins worth $3.1 million to hackers. The crypto exchange has ceased all crypto-related transactions for now.

The London-based cryptocurrency exchange Cashaa says it has lost 336 bitcoin to hackers. The crypto exchange has now ceased all crypto-related transactions, including withdrawals and deposits, as investigations into the breach get underway. In a tweet, crypto exchange Cashaa claimed that the hacker attacked one of its Blockchain.com wallets, which is used to store bitcoins and make transfers from the exchange. The hacker is believed to have implanted malware into one of the exchange’s computers. 

 

The hacker managed to get away with 336 bitcoins within minutes. 

The attacker is believed to have implanted malware into one of the exchange’s computers, and when an employee accessed the machine the afternoon of July 10 to make two distinct transfers, the hacker used the opportunity to get away with 336 bitcoins, valued at more than $3.1 million. All this happened in a matter of minutes, between 1:23 pm and 1:26 pm. The London-based crypto exchange has suspended all withdrawals for the next 24 hours as it continues to investigate the damage caused by the incident. 

 

The crypto exchange suspects the hacker is from India.

The Chief Executive Officer of Cashaa, Kumar Gaurav, said that they called the board meeting to decide whether the company will bear all the losses caused by the hack. The stolen funds were allegedly sent to this bitcoin address 14RYUUaMW1shoxCav4znEh64xnTtL3a2Ek, said the exchange. There’s some evidence suggesting that coin mixture software is being used to transfer the money and limit the traceability. The crypto exchange suspects that the hacker is from east Delhi, India, and has subsequently made a report with the concerned police cyber crime department in the country. The exchange stated that it had reported the hacker address to “all crypto exchanges” as part of efforts to prevent the alleged thief from using the money. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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