Eterbase hot wallets hacked | Bitcointalksearch.org

FaucetKING

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Quote from: Crypto_lion on September 08, 2020, 06:03:04 AM

Eterbase exchange hot wallet has been hacked and the hacker is apparently selling tokens on uniswap.

Be careful leaving huge funds on exchanges. Always keep it yourself in a secure way.

As usual, these highlighted tips are so important for the basic traders and the newbies. Always safeguard your private keys in a safe place and use your wallets as a storage for your coins and tokens because it is never safe to keep your cryptos at an exchange even if it is secure and trusted because the fault is humanistic and it can take place even hacking is getting more and more hard to fight. These black hat hackers got their hands on the hot wallet of EterBase, who knows what's next? or whose next? It might be you!
I've seen the news about this European Exchange in an altcoin's forum that i'm following, even with this infrastructure and the advancement /law enforcement of EterBase it got rekt.

poodle63

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Security concern is the biggest problem for these exchange, there's just always a security hole undiscovered for the hackers to discover. an exchange usually have hot wallet and they are always become the target of hackers. big exchange have tighter security and small exchange usually have really poor security since they have no money to fund for the security expert. these exchange really should come with other way other than saving up the money in one place because once its hacked that's their end.

Jawhead999

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Quote from: jacafbiz on September 08, 2020, 10:37:21 AM

I think all these CEX need to look at themselves seriously, if DEFI that is in the wild and with constant attempt by the hackers to hack them have not being hacked why are these CEX being hacked frequently. I just feel if this trend continues then we might be nearing the end of Centralise exchange.

IMO they already aware about security vulnerabilities before launch it, they also have bug bounty program https://support.eterbase.com/hc/en-us/articles/360014407640-Bug-Bounty-Program . But no system is 100% secured and there's have a risk to get hacked.

I don't think Centralized exchange will be ended, there're so many exchanges got hacked in the past until now Hacked Exchanges since 2011 and it not stop customer trustworthy.

Quote from: shinratensei_ on September 08, 2020, 05:49:17 PM

This is the disadvantage of dex when scammer has more ways to wash their money from the criminal act.
People were very disappointed with it.

If you're talking about money laundering, it's more appropriate to mention a mixer than DEX. No KYC is a advantages of DEX, but some people use this to abuse it like you said. All CEX will get hacked... they only wait.

Quote from: int03h on September 09, 2020, 01:22:51 AM

Small exchanges and poor security will only drive away investors. Historically there have been many low volume exchanges like Cryptopia.
The recent hack was only 1.6 million dollars, still small compared to the previous hacks.

the times come.
What about Binance? It's not small exchanges and poor security right? But they still got hacked any lost 41 million dollars [1]. It's not about how small, huge, good, trusted, or great security... it's because they are Centralized Exchanges.

[1] https://cointelegraph.com/news/hackers-withdraw-7-000-bitcoins-in-binance-crypto-exchange-security-breach

int03h

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Small exchanges and poor security will only drive away investors. Historically there have been many low volume exchanges like Cryptopia.
The recent hack was only 1.6 million dollars, still small compared to the previous hacks.

Akiko

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Quote from: lizarder on September 08, 2020, 02:12:46 PM

poor exchange because after their utility token was empty of enthusiasts, now their exchange is affected by hacking attacks, I hope this exchange does not exit a scam and may refund $5 million to traders who deposit funds in their hot wallet exchange.

it's going to be an exit scam if there are no more funds that they can use to pay all their users. That's a big amount already that lost to them and if I remember they only start the exchange after they have raised from their ICO and use it to develop the exchange . If there is nothing left for them, how can they continue.

Kotone

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Quote from: lizarder on September 08, 2020, 02:12:46 PM

poor exchange because after their utility token was empty of enthusiasts, now their exchange is affected by hacking attacks, I hope this exchange does not exit a scam and may refund $5 million to traders who deposit funds in their hot wallet exchange.

5million usd is a huge money. If anything goes wrong probably they wipl be shut down. I like this exchange before due to their complete legality and papers for launching their exchange. I hope they did not underestimate hackers cause security is a huge factor on every crypto industry. They should have learned that based from the past history of some hacked exchanges.

shinratensei_

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Quote from: lizarder on September 08, 2020, 02:12:46 PM

poor exchange because after their utility token was empty of enthusiasts, now their exchange is affected by hacking attacks, I hope this exchange does not exit a scam and may refund $5 million to traders who deposit funds in their hot wallet exchange.

Even if that will not be an exit scam project and it will be very difficult for the developers to recover the stolen amount. A lot of ethereum, tron, bitcoin, XRP, and other coins have already moved into the new address that owned by the hackers.
The hackers were also using the DEX to wash his stolen amount.

This is the disadvantage of dex when scammer has more ways to wash their money from the criminal act.

People were very disappointed with it.

lizarder

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poor exchange because after their utility token was empty of enthusiasts, now their exchange is affected by hacking attacks, I hope this exchange does not exit a scam and may refund $5 million to traders who deposit funds in their hot wallet exchange.

cabron

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Don't you think this is an exit scam exchange?

This exchange had done several swapping of their tokens in the past from Binance BEP to ERC and then XBASE being modified til this hack and finally they realize they are not going to pull something out of the stunts they've done. None of it worked so its time to exit.

Kupid002

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Quote from: semobo on September 08, 2020, 08:49:09 AM

Yes there it is, and there is no official announcement about the lost amount this is just the estimation of lost because these much of amounts were filled in that 6 hot wallets while hacked as per the exchange's report.

Is that exchange got shut down already? Or still working as normal!

the news is just last day and it takes time before the exchange will announce if they will going to shut down or not and if they are planning to give back the hacked funds since many will ask refund for that lost balance hopefully they can fix this problem without the need of closing it because of bankruptcy.

bitgolden

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These exchanges that are this small always goes through these type of situations. Interestingly if they can somehow come out of this without hurting any of the traders, they come out stronger and it turns out to be a better thing. Think about it, not that many people heard of eterbase, so when they get hacked everyone hears about it, because it is over 5 million dollars stolen so it is a big news everywhere, but consequences changes depending how they proceed.

If they close shop and say they do not have money because they were hacked, well not much to do, they are gone, but if they come out and say nobody will lose anything and everyone will have their money, that means they can go on stronger known as the exchange "got hacked but took the loss to themselves" which is a great marketing.

jacafbiz

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I think all these CEX need to look at themselves seriously, if DEFI that is in the wild and with constant attempt by the hackers to hack them have not being hacked why are these CEX being hacked frequently. I just feel if this trend continues then we might be nearing the end of Centralise exchange.

masterrex

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Quote from: Crypto_lion on September 08, 2020, 06:03:04 AM

Eterbase exchange hot wallet has been hacked and the hacker is apparently selling tokens on uniswap.

Be careful leaving huge funds on exchanges. Always keep it yourself in a secure way.

Its been a very unfortunate incident but it serves as a warning that every crypto exchange platform should enhance its security protocol and make it more reliable so that it can withstand any hacking attempt, I feel sorry for those users who lose their funds during the hacking incident.

Lagduf

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Quote from: semobo on September 08, 2020, 08:49:09 AM

Is that exchange got shut down already? Or still working as normal!

It's getting shutdown but it says that will come back shortly https://eterbase.exchange/

The coins that have already sold on uniswap can't be recovered again as it's dex. It looks like the users of eterbase has already started to sue the admin of eterbase exchange site.

Strongkored

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The exchange status now is under maintenance and this is make more panicked traders who's have funds there.
Never save your fund on exchange, the possibility of exchange being hacked should always be considered.

semobo

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Quote from: Kupid002 on September 08, 2020, 08:40:57 AM

Quote from: Crypto_lion on September 08, 2020, 06:03:04 AM

Eterbase exchange hot wallet has been hacked and the hacker is apparently selling tokens on uniswap.

Be careful leaving huge funds on exchanges. Always keep it yourself in a secure way.

don't forget to add source if you want to give news next time.

I will look in it.

found it https://sports.yahoo.com/european-crypto-exchange-eterbase-hacked-121005735.html and in the news its said more than $5million crypto currency has been hacked , that is the reasons why you should not use exchange as wallet and only use it for converting your crypto and transfer it to your wallet after the convertion is done.

Yes there it is, and there is no official announcement about the lost amount this is just the estimation of lost because these much of amounts were filled in that 6 hot wallets while hacked as per the exchange's report.

Is that exchange got shut down already? Or still working as normal!

Kupid002

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Quote from: Crypto_lion on September 08, 2020, 06:03:04 AM

Eterbase exchange hot wallet has been hacked and the hacker is apparently selling tokens on uniswap.

Be careful leaving huge funds on exchanges. Always keep it yourself in a secure way.

don't forget to add source if you want to give news next time.

I will look in it.

found it https://sports.yahoo.com/european-crypto-exchange-eterbase-hacked-121005735.html and in the news its said more than $5million crypto currency has been hacked , that is the reasons why you should not use exchange as wallet and only use it for converting your crypto and transfer it to your wallet after the convertion is done.

princecharles

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It's quite unfortunate that EterbaseExchange has joined the league of hacked exchange. I got to know from the conversation on their telegram group and it feels so bad because I swapped all my xbase tokens for the new one and I'm yet to sell because I was anticipating an increase in the value of xbase. As it stands there's yet to be an official announcement in this regard as the telegram Admin says investigation is still ongoing.

batang_bitcoin

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Quote from: Crypto_lion on September 08, 2020, 06:03:04 AM

Eterbase exchange hot wallet has been hacked and the hacker is apparently selling tokens on uniswap.

Be careful leaving huge funds on exchanges. Always keep it yourself in a secure way.

I can't find news about this hack. Is this the most recent thing that ever happened to them? Can you provide a valid source about this hack on Eterbase?
While you are right with that reminder that never leave your funds on exchanges. If you are okay leaving with small amount then don't be too comfortable leaving huge amount or your main portfolio to any exchange.

Crypto_lion

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Eterbase exchange hot wallet has been hacked and the hacker is apparently selling tokens on uniswap.

Be careful leaving huge funds on exchanges. Always keep it yourself in a secure way.

Topic: Eterbase hot wallets hacked (Read 142 times)