Australian Crypto Exchange CoinSpot Hacked for $2.4 Million

09/11/2023 13:27

According to Cointelegraph, Australian crypto exchange CoinSpot has reportedly been hacked for $2.4 million in a probable private key compromise on at least one of its hot wallets. Blockchain sleuth ZachXBT highlighted two transactions entering the alleged hackers' wallet on his Telegram channel. The wallet's owner then bridged the funds to the Bitcoin (BTC) network via ThorChain and Wan Bridge. Blockchain security firm CertiK stated that the alleged exploit resulted from a probable private key compromise on at least one CoinSpot hot wallet. Data from Etherscan shows a transaction totaling 1,262 Ether (ETH) — worth $2.4 million at current prices — coming from a known CoinSpot wallet and entering the alleged hackers' wallet. The presumed attacker stole 1,262 ETH from a known CoinSpot wallet. The owner of the wallet address that received the 1,262 ETH then began making a series of transfers. In two separate transactions, the wallet's owner swapped 450 ETH for 24 Wrapped Bitcoin (WBTC) via Uniswap. Within the next 10 minutes, the address swapped 831 ETH for Bitcoin via Thorchain, sending the Bitcoin to four different wallet addresses, according to CertiK investigative data viewed by Cointelegraph. A search of Bitcoin explorer BTCScan data showed the owner of the four Bitcoin wallets distributing the allegedly ill-gained BTC to multiple new wallets, transferring smaller divisions of the funds to additional new wallets each time. This is a tactic commonly leveraged by attackers to prolong the investigation process and make it more difficult to track the entirety of the stolen funds. CoinSpot, established in 2013, is Australia's largest crypto exchange by reported user numbers, serving around 2.5 million customers. The exchange is regulated by Australian financial watchdog AUSTRAC and was granted an Australian Digital Currency Exchange License by the regulator. CoinSpot did not immediately respond to a request for comment from Cointelegraph.

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Australian Crypto Exchange CoinSpot Hacked for $2.4 Million

More news about coinspot交易所

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