EXMO funds hacked through Poloniex, Authorities keep a strict vigil

  • EXMO hot wallets hacked via Poloniex exchange
  • The attackers have stolen worth $4million on December 21, 2020
  • Total 6% of its crypto assets have been lost due to the attack
  • $1 million has been stolen from the Zec (Zcash)through Poloniex
  • Bitcoin (BTC), Ether (ETH), XRP, Ether Classic (ETH), Tether (USDT) and Zcash are also affected 

One of the known crypto exchanges of the UK, EXMO has been hacked on December 21, 2020, via Poloniex exchange. The amount of money that has been stolen was estimated to be $4million. A total of 6% of EXMO crypto assets has been lost due to the attack, estimated by the EXMO. Approximately $4million has been withdrawn from Poloniex. 

As far as the Block Researcher’s Igor Igamberdiev, the exchange appears to have lost nearly $10.5 million of total funds. However, the exact estimate of the funds lost is not calculated as of now by the EXMO. The exchange has also hinted that the amount cannot be extracted currently from ECMO due to hackers withdrawing the funds through Poloniex. 

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$1 million has been stolen from the Zec (Zcash)through Poloniex crypto exchange. The exchange has given the list of stolen coins and the addresses. Most of the funds were sent to Poloniex. Some of the coins which are lost are Bitcoin (BTC), Ether (ETH), XRP, Ether Classic (ETH), Tether (USDT) and Zcash (ZEC). It is to be noted that all the virtual assets are hosted on their own server. 

EXMO has also requested Poloneix to block the accounts that are associated with the breach and inform the London Police about the theft. The report has been filed on the day of the attack. The exchange also reported that out of 57 cryptocurrencies they have lost 6 of them. Igamberdiev in his report mentions 292 BTC ($65million) has been stolen along with a transaction of 18.5BTC (415,000) are to be confirmed soon during the finding.

The number of units stolen from other coins are 867 ETH ($521,900), 476,521 XRP ($247,700 approx), 20,651 ETC ($126,800), 50,000 USDT ($50,000) and 39,285 ZEC ($2.7 million). The exchange will soon recover the lost funds and hopes to fully start the operations soon. The exchange has resumed the work soon enough. EXMO spokesperson informed the press that they are working on final preparations and that they will soon enable deposit and withdrawal services on the EXMO exchange soon. 

To compensate this theft and to pacify their clients, the exchange has also ensured that whichever consumer has been affected by the theft, EXMO will compensate them with full cover. However, the cold wallets of the exchange have been saved since they are offline. 

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Ritika Sharmahttp://www.thecoinrepublic.com
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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