Exmo crypto exchange suffers hack, halts all withdrawals

CoinTelegraph

Exmo, a cryptocurrency exchange headquartered in the United Kingdom, has suffered a major security breach causing the platform to freeze all withdrawals.

According to a Dec. 21 security notice, Exmo detected suspicious withdrawal activity on Monday, with large amounts of major coins like Bitcoin (BTC) leaving the platform’s hot wallets.

How To Get Free Crypto  

Maria Stankevich, head of business development at crypto exchange Exmo, told Cointelegraph that the incident is “nothing very serious,” as the affected hot wallets comprise 5% of the total assets held by the exchange. “Let us stress that all the assets in the cold wallets are safe,” the announcement reads.

According to the announcement, other affected cryptocurrencies included Ether (ETH), XRP, Tether (USDT), Zcash (ZEC), and Ethereum Classic (ETC). The exchange mentioned correspondent crypto wallets that were likely to be involved in the hack, asking global exchanges to block the associated wallets.

Stankevich noted that the exchange has not yet calculated the amount of losses, claiming that Exmo is now focused on tracking movement of withdrawn funds.

Exmo launched a security investigation and also reported the case to the London police. The company asked users to not deposit any funds to Exmo wallets until the issue is resolved. “We want to assure you that if any user fund is affected by this incident, it will be covered completely by Exmo,” the company said.

Coinbase Banner  

Earlier in December, Exmo received a temporary registration from the U.K.’s Financial Conduct Authority allowing it to continue trading for an extended period until July 9, 2021

Go to Source
Author: Helen Partz


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.