Hackers hacked the hot wallet of crypto exchange ZB

What’s new? Analytics company PeckShield reported that Asian cryptocurrency exchange ZB (22nd place in the CoinMarketCap ranking of exchanges) was hacked. Hackers managed to gain access to the platform’s hot wallet. Preliminary damage from the attack is estimated at $4,8 million.

The total funds being transferred out from @ZBexchange are ~$4.8M and here is the detailed breakdown of tokens: https://t.co/uMpkvxtOAo pic.twitter.com/xo373Zyge1— PeckShield Inc. (@peckshield) August 3, 2022

What else is known about the hack? According to PeckShield, a suspicious movement of 21 crypto assets was recorded on the network which were later transferred to various exchanges. Part of the funds was sold for 2224 ETH (more than $3,66 million at the rate as of August 4, 06:10 UTC). The remaining assets worth about $1 million are still stored in the hackers’ wallets. As a result of the attackers’ actions, the daily trading volume at the exchange fell by 25,23% over the last 24 hours.

On August 2, the exchange suspended deposit and withdrawal of funds, citing the need for maintenance “due to the sudden failure of some core applications.” The platform team announced this on Twitter.

ZB users,Due to the sudden failure of some core applications, we’re currently responding to these issues. To keep your assets secured, we have temporarily suspended Deposit and Withdrawal services while we resolve the issue.We will provide an update once completed.Thank you— ZBExchange (@ZBexchange) August 2, 2022

What is known about the exchange? ZB positions itself as “the world’s most secure digital asset exchange.” Since 2013, the platform has served more than 15 million users from around the world. The exchange has offices in Dubai, Malaysia, Singapore, Australia, Russia, South Korea, Hong Kong, Switzerland, and the US. The daily trading volume is $1,13 billion as of August 4. There are 188 digital assets and 350 currency pairs on the platform.

The attack on ZB was the second major incident this week. On August 3, users of Solana wallet were hacked. In total, more than 8000 addresses were affected, and the total damage from the attack exceeded $7 million.