🕳️ September Hat Trick by Lazarus Group
HashingBits | Week- 37
In brief ⚡
CoinEx Suffers $54.3 Million Security Breach, Raising Concerns About Crypto Exchange Safety
Remitano Suffers $2.7M Cyberattack on Ethereum and Tron; Tether's Swift Action Saves Millions
Hacks and Scams⚠️
CoinEx
Amount of Loss: ~ $54.3 Million
Analysis
CoinEx, a crypto custodian, recently experienced a security breach where their hot wallets were emptied, resulting in a loss of $54.3 million in various cryptocurrencies.
The attack was detected approximately four hours after it began, and CoinEx assured users that the losses represent only a small portion of their total assets, promising to cover the losses.
The attack involved the transfer of ETH, TRON, MATIC, and other assets, which were rapidly drained from wallets, converted back to native assets, and sent to new addresses.
CoinEx has not disclosed how the security breach occurred but pledged to release a detailed timeline and comprehensive report about the incident.
This incident follows a recent $40+ million hack of Stake, which was attributed to DPRK state-sponsored hackers by the FBI, raising concerns about the security of centralized exchanges.
Reminato
Amount of Loss: ~ $2.7 Million
Analysis
Remitano suffered a $2.7 million loss from hot wallets on Ethereum and Tron due to a suspected cyberattack.
Tether's swift response helped reduce the attack's impact, freezing most of the stolen funds and limiting the loss to $260,000.
The attack is believed to be the work of the Lazarus Group, a sophisticated North Korean state-sponsored hacking organization.
Remitano attributed the breach to a "data breach from a third-party source" and took measures to secure remaining assets.
Despite such incidents, the cryptocurrency industry often responds slowly, and even funds linked to known hackers can move in and out of exchanges without adequate scrutiny.
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