Cyberattackers attacked a British cryptocurrency exchange and made off with $3 million in Bitcoin.
Cashaa, in a tweet, claimed to have been hit by a crypto crime and has now halted all crypto-related transactions. The threat actors attacked one of its Blockchain[.]com wallets that is used to store bitcoins and make transfers.
How did it happen?
- It is believed that malicious actors implanted malware into one of the exchange’s computers.
- When an employee accessed the machine for two different transactions, the hacker made off with 336 BTC, amounting to more than $3.1 million and it took only 3 minutes for the task to be completed.
- The company board is still trying to determine whether to bear all the losses.
- In a statement shared with Cointelegraph, Cashaa’s CEO Kumar Gaurav said that the company had reason to believe that the attackers were based in East Delhi, India.
- Based on this, the company filed a cybercrime incident report with the Delhi crime bureau.
- The company has also reportedly taken steps to prevent the cybercriminals from selling the stolen funds on other exchanges.
The bottom line is that cryptocurrency heists have become a frequent occurrence in the cyber landscape and often times, it is due to inadequate cyber defenses put in place cryptocurrency exchanges. Exchanges are advised to strengthen their security infrastructure to prevent such instances of cryptocurrency thefts and money laundering.