According to a report by security firm PeckShield, it stopped withdrawals yesterday. cryptocurrency $4.8 million was stolen from the hot wallet of the exchange ZB.com as a result of a possible hack.
According to on-chain data, large amounts of over 20 altcoins were transferred from ZB.com’s hot wallet to another wallet. At the time of this writing, the wallet in question seems to have liquidated all but five of these coins.
ZB.com, One of the Oldest Exchanges in the Cryptocurrency Market, Lost 2,224 Ethereum
These tokens were sold on various decentralized exchanges for 2,224 ETH ($3.6 million) on Tuesday. The hacker moved the funds to this wallet address and as of the date of publication, the stolen Ethereum tokens are still here.
However, in the first wallet where the suspected Hacker carried ZB.com funds, there is still approximately $1 million in cryptocurrencies belonging to these five coins.
#CommunityAlert 🚨@ZBexchange have been hacked resulting in 2224 ETH (~ $3.6m) being transferred into the hackers wallet.
The funds are currently in EOA 0x2644 and will highly likely be sent to @TornadoCash
Busy week! pic.twitter.com/7oz9FIqhjx
— CertiK Alert (@CertiKAlert) August 3, 2022
The suspected hack came to light when ZB.com stopped customer withdrawals on Tuesday, citing “temporary maintenance”.
In its statement on the subject, the exchange said:
“It still takes time to fix the issue due to some essential apps suddenly crashing. Deposit and withdrawal services are currently suspended. Please do not deposit any digital currency before recovery.”
ZB.com, formerly CHBTC.com, is one of the oldest crypto exchanges in the market. The platform was previously based in China and was among exchanges that had to relocate from China after the country banned crypto trading in 2017.
*Not investment advice.