ZB.com Might Have Been Attacked with Hackers Removing $4.8M

The report estimates that a total of $880,235 worth of USDT, $441,357 worth of SAND, $344,376 worth of DAWN, $280,181 worth of MATIC, $258,108 worth of APE, $257,990 worth of OMG among others were transferred.

Recently, ZB.com, a digital asset exchange and crypto trading network based in Zurich, Switzerland, announced that it is responding to the issues of sudden failure of some core applications.

For this reason, they triggered a temporal suspension of deposits and withdrawal services to ensure that funds are secured as they resolve the issue.

“Deposit and withdrawal services are now suspended. Please do not deposit any digital currency before recovery. Any change is subject to the announcement. We apologize for any inconvenience caused and thank you for your patience!” ZB.com announced.

However, Blockchain investigator PeckShield has disclosed that about $4.8 million has been moved from the exchange amid the announcement. According to them, about 21 types of tokens including Tether (USDT), Shiba Inu (SHIB), and Tesra (TSR) were illegally transferred starting from Monday, and it is speculated that it might have been facilitated by hackers.

The report estimates that a total of $880,235 worth of USDT, $441,357 worth of SAND, $344,376 worth of DAWN, $280,181 worth of MATIC, $258,108 worth of APE, $257,990 worth of OMG among others were transferred.

ZB.com was founded in 2013. It claims to be the world’s most secure digital asset exchange. It was formerly headquartered in China under the name CHBTC.com. However, the exchange suspended all operations in the country following a strict ban on crypto exchanges in 2017.

ZB.com Joins Other Crypto Exchanges Attacked Since May

An exploit in June saw hackers transferring about $100 million from Horizon Bridge, a cross-chain bridge that ensures that tokens are transferred between harmony bridge and other networks. Nomad token bridge also saw hackers transferring $200 million from its platform earlier this week.

Currently, there is an ongoing attack on the Solana ecosystem as users have on their various social media handles posted that their SOLs have mysteriously disappeared from their wallets. According to the Solana Status Twitter account, 7767 wallets including mobile and browser extensions have been affected so far.

“This does not appear to be a bug with Solana core code, but in software used by several software wallets popular among users of the network,” according to Solana Status.

According to blockchain auditors OtterSec, the hackers have amassed over $5 million worth of SOL, SPL, and other Solana-based tokens from users.

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John K. Kumi

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.