Tether Freezes Hackers’ Wallet Address After $2.7 Million Theft from Remitano Exchange
This month, there have been several hacks targeting centralized exchanges, and the Remitano exchange is the latest victim. Cybersecurity platform Cyvers Alerts first alerted users about suspicious withdrawal transactions from Remitano, and PeckShield, a blockchain analytics firm, confirmed that Tether has frozen two addresses on the Ethereum and TRON blockchains.
The hackers managed to steal around $2.7 million, with $1.4 million consisting of USDT. Tether’s quick action prevented further transfer of the stolen funds, but the hackers have already exchanged USDC and Ankr for ETH and transferred it to the HitBTC exchange.
Remitano Exchange Reassures Users
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Remitano has updated users about the incident and assured them that their assets are still fully protected. However, a community member raised concerns about the safety of funds following the hack.
Remitano stated that the hack was due to a compromise of sensitive information but did not provide further details. The exchange is currently investigating the matter and has moved users’ funds to cold wallets for added security.
Since early September, there have been multiple hacks on centralized platforms, including a $41 million theft from crypto betting platform Stake and a $27 million hack on CoinEx exchange.
Hot Take: Tether’s Swift Action Prevents Further Losses in Remitano Hack
The recent hack on Remitano exchange underscores the ongoing security challenges faced by centralized platforms in the crypto industry. However, Tether’s proactive response in freezing the hackers’ wallet addresses demonstrates its commitment to protecting user funds. This incident serves as a reminder for users to exercise caution when using centralized exchanges and to consider the security measures implemented by platforms before entrusting their assets.
