On October 17, a large-scale hack took place on the Philippine crypto exchange Coins.ph. Approximately 12.2 million XRP was stolen, which corresponds to a market value of approximately $6 million.
The cyber attack consisted of a series of 13 transactions, each time transferring 999,999,999 XRP to one specific wallet. These transactions took place in a short time span of just 32 minutes.
After obtaining the XRP, the hacker distributed it to various addresses, including accounts on crypto exchanges such as OKX, Simple Swap, ChangeNOW and WhiteBIT. However, some progress has been made in locating and recovering the stolen funds. For example, WhiteBIT managed to block a transaction of 445,000 XRP after a request from Coins.ph to stop the movement of these funds.
Lazarus group behind many crypto hacks
The number of crypto hacks increased in the third quarter of 2023. The infamous North Korean hacker group, Lazarus Group, played a major role in this increase. It is still uncertain whether they are also responsible for the XRP hack.
In September, the hackers managed to steal $41 million in cryptocurrencies from the online casino Stake.com. The Federal Bureau of Investigation (FBI) closely monitors the activities of this group and remains committed to combating digital crime.
This year alone, the Lazarus Group has taken more than $200 million through various cyber attacks. Their latest attack targeted Stake.com’s hot wallets, leading to a temporary disruption of casino operations. The FBI is committed to exposing the activities of the Lazarus Group and is committed to cracking down on their illegal practices that contribute to the financing of the North Korean regime.
Free 10 euros worth of Crypto
Do you want to enter the crypto world and perhaps buy XRP or another crypto? Then we have great news for you! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers receive an exclusive offer.
If you sign up for Bitvavo via the button below, you will not only receive 10 euros for free, but you will also pay no trading fees on your first 10,000 euros in transactions.
2023-10-22 17:00:12
#Hacker #steals #million #XRP #Philippine #stock #exchange
