The Remitano Exchange Hacked, Suffering $2.7 Million in Losses

 Remitano Exchange Hacked, $2.7 Million in Losses

On September 14, 2023, it was reported that Remitano, a popular cryptocurrency exchange based in Vietnam, was allegedly targeted by hackers, resulting in a loss of $2.7 million.

According to Cyvers Alerts, a blockchain security firm, suspicious transactions originating from Remitano were detected. These transactions involved funds amounting to $2.7 million, spread across three blockchains: Ethereum, Bitcoin Cash, and TRON.

Cyvers Alerts immediately reached out to the Remitano team in an attempt to prevent further losses. In addition, the crypto community noticed that Tether had frozen Ethereum and TRON wallets containing 1.3 million USDT and 537,000 USDT, respectively, which were linked to the hacker.

As of the time of writing, Remitano had not yet issued an official statement about the incident. However, the exchange announced a 48-hour suspension of deposits and withdrawals on certain blockchains (excluding Bitcoin, Bitcoin Cash, and Litecoin) to contain the damage.

This breach is the second exchange attack in just a few days. On September 12, CoinEx, another cryptocurrency exchange, also fell victim to hackers, who stole $54 million, forcing the platform to halt deposits and withdrawals. There are reports suggesting that the group responsible for both attacks might be the Lazarus Group, a hacking organization with ties to North Korea, known for several major cyberattacks in the cryptocurrency sector.

This series of attacks highlights the ongoing security vulnerabilities in the crypto industry and emphasizes the need for stronger protections on exchanges.