ChangeNow catches 500,000 stolen XRP from the GateHub hack

Some of the XRP funds stolen between May 30 and June 5 from crypto wallet GateHub have been frozen as they were passing through the platform. It was revealed on June 6 that nearly 100 XRP Ledger wallets on cryptocurrency wallet provider GateHub were hit by hackers, resulting in the loss of some 23 million XRP ($9.2 million).

- Advertisement -

Crypto exchange ChangeNow revealed on June 11 that it managed to catch 500,000 ($200,000) of the stolen XRP as it moved across its platform.

Once the hack happened, a blacklist of addresses involved in the hack was sent to ChangeNow and other wallets and exchanges in order to prevent the funds from being moved around. However, 2 million XRP ($800,000) was siphoned through ChangeNow before it was able to implement the blacklist.

GateHub community member, Thomas Silkjær, who had earlier warned about the possibility of a breach, published a report on the hack. He considered a number of possible methods the attacker may have used and ruled out others, including phishing attacks and breaches of client accounts. Instead, he suggests it may have been a leak of information from an old database.

The stolen funds that ChangeNow managed to recover are still in its custody but will be forwarded to GateHub soon.

Source

Previous Articles:

- Advertisement -

Latest News

Ripple Applies for US Banking License, Seeks Fed Master Account

Ripple Labs is seeking a national banking license in the United States from the...

Radix Launches Early Test for 1 Billion XRD DeFi Rewards Campaign

Radix will run a public test of its new DeFi rewards campaign from July...

Investors Pump $380M into Four Surging DeFi Protocols in June

Four emerging DeFi projects saw a combined inflow...

FHFA Chief Demands Probe Into Powell Over $2.5B Fed HQ Revamp

FHFA Director William J. Pulte has called for an immediate Congressional investigation into Federal...

SEC to Review Grayscale GDLC ETF Approval, Stays Conversion Order

The U.S. Securities and Exchange Commission (SEC) is reviewing its staff’s approval to convert...

Must Read

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.Those who have opened a Bitcoin account on...