Remitano allegedly hacked over $2.7 million

Remitano, a Seychelles-based cryptocurrency exchange platform, experienced suspicious transactions on Sept. 14.

The platform experienced large withdrawals under suspicious circumstances, with over $2.7 million worth of crypto being drained from its wallet by a single account. Tether has frozen one address the attacker allegedly used, potentially saving $1.4 million of customers’ crypto.

At approximately 12:45 p.m. on Sept. 14, a known Remitano hot wallet began sending funds to an address with no prior history. Roughly $1.4 million worth of Tether (USDT) and $208,000 worth of USD Coin (USDC) stablecoins, as well as 104,000 Ankr tokens (worth $2,000 at the time), were moved to address  0x74530e81E9f4715c720b6b237f682CD0e298B66C 1.

The blockchain company Cyvers has alerted the crypto industry about suspicious transactions. Remitano has not yet stated the incident.

Hackers have become a significant threat to the crypto industry as they continuously evolve tactics to exploit vulnerabilities and steal digital assets. With the increasing complexity of hacking attacks, companies operating in the crypto space are urged to modernize their cybersecurity systems to protect themselves from these malicious activities.

According to Nikesh Arora, the CEO of Palo Alto Networks, hackers are evolving rapidly, necessitating enhanced security measures. In an interview with CNBC’s “Mad Money,” Arora emphasized the importance of companies staying ahead of hackers by implementing robust cybersecurity protocols.

One concerning trend is the emergence of a new type of crypto scam involving the manipulation of Google Ads. Scammers purchase ads for legitimate crypto websites and then use URL injection to redirect users to malicious sites once they click on the ad. This deceptive tactic highlights the need for users to exercise caution and verify the authenticity of websites before engaging with them.