Philippines-based crypto exchange Coins.ph lost millions of dollars worth of Ripple (XRP) after being exploited.
Hackers targeted the Asia-based cryptocurrency exchange named Coins.ph. According to the information provided by The Block, the attack in question took place on Tuesday, October 17.
Cyber attacker via Coins.ph 13 times in 30 minutes 999,999.999 XRP lots carried out the purchase and sale. This 13 processing additionally hacker 200,000 XRP lots further processed. However, one of these transactions did not occur as the attacker wanted. At the end of these processes, the attacker approximately 6 million dollars worth 12.2 million XRP He managed to steal it.
The hacker, who earned millions of dollars in a short time thanks to this surprising attack method, transferred 12.2 million XRP to the crypto exchange. OKX, WhiteBIT, OrbitBridge And SimpleSwap, OrbitBridge Distributed to centralized and decentralized exchanges such as.
WhiteBIT stated that they noticed the situation and took immediate action 445 thousand XRPHe announced that they blocked:
As soon as WhiteBIT received a request from Philippines-based exchange Coins, it immediately took action and blocked 445,000 Ripples. Additionally, WhiteBIT reached out to Cristal and Chainalysis, requesting that they flag addresses associated with stolen cryptocurrencies.
Coins.ph has not made a public statement on the matter.