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Hackers might be responsible for removing $4.8M from crypto exchange PeckShield

3 min ago2 min readOther
Hackers might be responsible for removing $4.8M from crypto exchange PeckShield

Blockchain investigator PeckShield has reported roughly $4.8 million in crypto moved from amid the exchange announcing the suspension of withdrawals.

In a Wednesday tweet, PeckShield speculated that hackers might be responsible for transferring 21 types of tokens off the exchange starting on Aug. 1, including Tether (USDT), Shiba Inu (SHIB), and Tesra (TSR). According to the blockchain investigator, the funds totaled roughly $4.8 million at the time of publication.

The total funds being transferred out from @ZBexchange are ~$4.8M and here is the detailed breakdown of tokens: — PeckShield Inc. (@peckshield) August 3, 2022

The suspected hack followed announcing the suspension of deposits and withdrawals on Tuesday in response to the “sudden failure of some core applications.” The exchange warned users not to “deposit any digital currency before recovery.”

Many crypto users have been affected by some recent multimillion-dollar hacks. In June, an exploit led to $100 million being removed from the Horizon Bridge, a cross-chain bridge that facilitated token transfers between the Harmony blockchain and other networks. Earlier this week, hackers drained $200 million worth of crypto from the Nomad token bridge.

Crypto Twitter users also reported on Wednesday that hackers had gained access to their funds using an exploit which targeted Solana wallets. The situation is still ongoing at the time of publication, but the Solana Status Twitter account reported that 7,767 wallets across mobile and browser extensions had been affected as of 5:00 AM UTC.

“This does not appear to be a bug with Solana core code, but in software used by several software wallets popular among users of the network,” said Solana Status.

What’s going on ? 4 hacks in a row in less than a month? Harmony hack $100m Nomad hack $200m Solana exploits $8m ZB exchange hack $4.8mIt's absolutely mind-blowing to see that crypto hasn’t had a break from exploits.#BTC #SOL #Ethereum — Ian | Trades (@Ian081700s) August 3, 2022, which according to its website claims to be “the world's most secure digital asset exchange,” was founded in 2013 under the name Formerly headquartered in China, the firm suspended its operations in the country in September 2017 following local regulators banning crypto exchanges.

Cointelegraph reached out to, but did not receive a response at the time of publication.


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