Two Cryptocurrency Firms Hit by Attacks
Recently, two cryptocurrency firms have faced cyber attacks, resulting in significant losses for users. One of these firms, GateHub, reported that users had lost nearly $9.7 million due to a breach in their XRP Ledger wallets. The company issued a statement urging affected users to transfer their funds to a hosted wallet as a precautionary measure.
GateHub Incident Details
GateHub’s investigation revealed that approximately 100 XRP Ledger wallets were compromised in the attack. The XRP security community disclosed that 23.2 million XRP coins had been stolen, with 13.1 million already laundered. Despite these findings, the exact method used by the perpetrator to carry out the attack remains unknown.
GateHub stated, “API requests to the victim’s accounts were all authorized with a valid access token. There were no suspicious logins detected, nor signs of brute forcing. However, an elevated number of API calls from specific IP addresses may have facilitated the breach. All access tokens were disabled on June 1, halting further suspicious activity.”
Komodo’s Security Breach
Another cryptocurrency platform, Komodo, narrowly avoided a major theft thanks to prompt action by their cybersecurity team. Hackers had injected malware into a supply chain provider’s software used by the Agama wallet application to steal wallet seeds and login passphrases. Upon discovering the vulnerability, Komodo’s team utilized the same exploit to secure around 8 million KMD and 96 BTC from compromised wallets, totaling $12.5 million and $765,000 respectively.
Komodo stated, “We were able to prevent the attacker from accessing the funds at risk by taking control of the affected seeds. This proactive response safeguarded the assets that would have otherwise been vulnerable to theft.”
These incidents highlight the growing security threats faced by cryptocurrency firms and the importance of robust cybersecurity measures to protect user funds.