You are currently viewing According to reports, the Remitano exchange saw a $2.7 million hack; Tether has frozen $1.4 million.

According to reports, the Remitano exchange saw a $2.7 million hack; Tether has frozen $1.4 million.

The Remitano exchange saw suspicious activity because one account took almost $2.7 million from their wallet.


On September 14, the cryptocurrency exchange Remitano reported significant withdrawals under unusual circumstances, leading some blockchain researchers to speculate that the exchange may have been hacked. Through the shady transactions, a total of $2.7 million in cryptocurrency has been taken out. One of the addresses the suspected attacker used has been locked by Tether, potentially safeguarding users’ cryptocurrency valued at $1.4 million.


A well-known Remitano hot wallet started transmitting money to an address with no previous history at around 12:45 pm. Tether USDT $1.00, USD Coin USDC $1.00, and 104,000 Ankr tokens (each worth $2,000 at the time) totaling about $1.4 million, $208,000, and 104,000, respectively, were sent to the new address.


The crypto community has been informed about the allegedly suspicious transactions by blockchain analytics platform Cyvers.


The address was later frozen by Tether to stop the attacker from withdrawing USDT, preventing the further movement of $1.4 million in drained cryptocurrency. Regarding the event, Remitano has not yet released a statement.


Peer-to-peer cryptocurrency exchange and payment processor Remitano specializes in emerging countries. Pakistan, Ghana, Venezuela, Cambodia, Kenya, Malaysia, India, South Africa, Vietnam, and Nigeria are among the countries it serves as users.


In 2023, there were many crypto exchange breaches that led in the release of private keys and the theft of money. The Lazarus Group, a cybercriminal group thought to have connections to the North Korean government, is allegedly responsible for these assaults, according to American investigators. The gang is accused of stealing $27 million from Coinex on September 12 and $41 million from the gaming website Stake on September 4.


#Blockchain #Business #Hackers #Cryptocurrency Exchange #Hacks


Dr. William Odion is a financial coach and consultant who specializes in Forex and Crypto trading. He is also an author, founder and CEO of Probaba EA Consults a.k.a Probabafx, and a brand influencer and real estate investor.

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