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UK Crypto Exchange EXMO Gets Hacked, Loses Over $10M

UK Crypto Exchange EXMO Gets Hacked, Loses Over $10M

EXMO is a UK-based cryptocurrency exchange that lost over $10 million in a cyber attack.
Attackers moved most of the stolen cryptocurrencies to the Poloniex exchange.
Moreover, only the hot wallets were affected in the attack.

EXMO cryptocurrency exchange made an announcement that it lost over $10 million in the attack which happened on December 21 at 2:27:02 UTC.

EXMO exchange hacked losing over $10M

The UK-based cryptocurrency exchange faced a cyber attack wherein large funds were transferred from their hot wallet. Moreover, the exchange intercepted further withdrawals and redeployed hot wallets.

However, over 5% of its assets are withdrawn from the wallets. Nevertheless, on tracking the assets through the addresses, it is found that more than $10.5 million drained from the exchange. In addition, the lost crypto funds include Bitcoin (BTC), Ether (ETH), Ripple (XRP), and others.

Even more, the attackers moved most of the stolen cryptocurrencies to the Poloniex exchange. In addition to that, the exchange has filed a report with the London police. Additionally, the exchange also mentioned that it filed a report on the incident to the London police.

The EXMO exchange added,

Most importantly, we want to assure you that if any user fund is affected by this incident, it will be covered completely by EXMO.

Furthermore, only the hot wallets were affected in the attack. More so, EXMO emphasized that its cold wallets are not compromised. Recently, the hardware wallet manufacturer Ledger apparently got hacked as over one million of its users’ emails leaked on a hacker site.

Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.