The UK-based Cashaa cryptocurrency exchange was stolen 336 Bitcoin (BTC) by hackers from its wallet. Cashaa has announced the suspension of all crypto-related transactions.
Revealing to CoinTelegraph, CEO of Cashaa, Kumar Gaurav said that one of the exchange's wallets was hacked and took over 336 BTC. He also suspected hackers were from Delhi (India). The company sent a report of the incident to the Delhi Crime Bureau with a confirmation number 20807200031555 belonging to the category of cryptocurrency crimes.
Cashaa said the hacker installed malware on employee computers - something that could be used to gain access to exchanges and perform tasks like withdrawing money from users. The software informed the hacker when an employee logged into his account at 1:23 pm on July 10 and made two transfers from Cashaa's wallet. Cashaa used the Blockchain.com wallet to store and send BTC. Kumar told Cointelegraph:
“We are still investigating and reporting the damage of the hack, and temporarily suspending all withdrawal orders for 24 hours. We held a conference call to decide whether the company suffered any losses. ”
However, what Cashaa cares about now is how to not allow hackers to sell this Bitcoin on the exchange. In a July 11 tweet, the company also revealed the Bitcoin wallet address (14RYUUaMW1shoxCav4znEh64xnTtL3a2Ek) to track the movement of the stolen money. By analyzing the transaction model from this address, it is possible that hackers are using coin scrambling tools to move money and remove traces of transactions.
Kumar has criticized several exchanges, which provide assistance to hackers to deposit and sell stolen coins, which has led to an increasing number of hacks. He said:
“Everyone working in the cryptocurrency industry had to work very hard to bring the level of security that a normal user has when dealing with a bank account. To this day, hackers are confident to hack cryptocurrency wallet addresses and transfer funds to exchanges that are facilitating money laundering through their systems. Such exchanges must be shut down and their owners must be charged with money laundering. "
Investigation agencies, including the cybercrime department of the Delhi Police Department, have begun investigating the incident. Additionally, all cryptocurrency exchanges have been notified of the hacker's address to promptly block any Bitcoin transactions from coming here.
Currently, all exchanges in India are trying to help Cashaa track hacker addresses and report any suspicious activity, including CoinDCX, WazirX, Bitbns, and even international exchanges like Binance.
According to Cointelegraph