European Crypto Exchange Eterbase HACKED!

A European Crypto Exchange by the name Eterbase hacked, losing about $5 million in the heist, compromising six Eterbase hot wallets.

By · Sep 9, 2020 . 5min read

Eterbase Crypto Exchange

A European crypto exchange by the name Eterbase has been reported hacked, losing about $5 million in the heist.

Eterbase announced on the 8th of September that hackers compromised six of its hot wallet and that investigation is ongoing. Hence it didn’t release the actual figure it lost during the attack. However, the compromise wallets listed are bitcoin (BTC), ether (ETH)/ ERC-20 tokens, XRP, Tron (TRX), Tezos (XTZ), and Algorand (ALGO).

Block Research, in its investigation, published how much hackers stole in each of the wallets compromised. Eterbase’s ETH/ERC-20 wallet has the highest figures, with around $3.9 million lost to hackers. Tezos/XTZ wallet is next at $471,000.

European crypto exchange Eterbase HACKED!
Source: Block Research reported by The Block

Consequently, Eterbase posted in its Telegram news announcement channel that it has contacted all centralized crypto exchanges that might be receiving these hacked funds.

Also, the crypto exchange assures its traders that it has taken necessary steps to ensure their deposit does not suffer any damage.

Eterbase is a centralized exchange based in Bratislava, Slovakia. It launched with a focus on Crypto to SEPA integration via individual IBAN accounts. It also focuses on multi-asset support and local regulatory compliance. Established in 2018, it successfully completed its ICO and became fully active in May of 2019.

However, Coinmarketcap lists the crypto exchange, not so much it heard of it. It presently has 192 active markets with the YFL/USDT market driving its highest volume.

Eterbase hack represents another European crypto exchange hack. Barely a month ago, 2gether, hackers breached a Spanish cryptocurrency trading platform. In this case, hackers carted away with $1.4 million, of which the exchange claims insolvency.

In summary, asides Eterbase’s recent hack, at least five other major exchange hack has happened in 2020.

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