In recent months cryptocurrency Attacks on platforms are getting a lot of attention. Today, a new one has been added to the hacked crypto platforms.
Supporting multiple blockchains decentralized exchange (DEX) attempt, Transit Swap, was attacked by cyber thieves at around 01.00 last night.
Transit Swap announced the cyber attack on its Twitter account.
1/2 According to the analysis of data on chain, TransitSwap has been attacked by hackers. The technical team has urgently suspended the service, and the contract has been completely suspended, no operations can be performed.
— Transit Swap | Transit Buy | NFT (@TransitFinance) October 1, 2022
“According to on-chain data, the TransitSwap platform has just been hacked. Our technical team has completely stopped platform services as of now, TransitSwap is offline. We will make further announcements in the coming hours.”
After the attack, the TransitSwap team; blockchain from security initiatives SlowMist, Bittrace and peckshield He began to track down the criminals. Within hours, researchers identified the criminals’ IP, email and crypto wallet addresses.
According to data from Peckshield, hackers stole $21 million worth of cryptocurrencies from the Transit Swap exchange.
Peckshield has created a diagram from his Twitter account on where criminals move the stolen cryptocurrencies.
Here comes the flow of stolen assets w/ the cost of ~$21M. @0xTransition Note the hacker may have performed earlier withdrawals from known exchanges. https://t.co/cZhQk2fotf pic.twitter.com/eGGFiD0LIW
— PeckShield Inc. (@peckshield) October 2, 2022
TransitSwap: Our Fault, Sorry
Hours after the cyber attack took place, a new statement came from TransitSwap. Stock market executives explained the reason for the cyber attack as follows:
“A code error on our website created a security vulnerability. Criminals made an attack using this vulnerability. We apologize to our users.”
TransitSwap Twitter account announced good news yesterday evening. Thanks to the cooperation with security platforms, 70% of the stolen cryptocurrencies were returned to the exchange.
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