Hackers May Be Responsible For Removing $4.8 Million From Crypto Exchange ZB.com: PeckShield


Blockchain researcher PeckShield has reported that about $4.8 million worth of crypto has been moved from ZB.com amid the exchange announcing the suspension of withdrawals.

In a Wednesday tweet, PeckShield speculated that hackers may be responsible for transferring 21 types of tokens from the exchange as of Monday, including Tether (USDT), Shiba Inu (SHIB) and Tesra (TSR). According to the blockchain researcher, the funds amounted to approximately $4.8 million at the time of publication.

The suspected hack followed ZB.com to announce the suspension of deposits and withdrawals on Tuesday in response to the “sudden failure of some core applications”. The exchange warned users not to deposit any digital currency before recovery.

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Many crypto users have been affected by some recent multimillion dollar hacks. In June, an exploit resulted in $100 million being removed from the Horizon Bridge, a cross-chain bridge that enabled token transfers between the Harmony blockchain and other networks. Earlier this week, hackers extracted $200 million worth of crypto from the Nomad token bridge.

Crypto Twitter users also reported on Wednesday that hackers had gained access to their funds using an exploit targeting Solana (SOL) wallets. The situation is still ongoing at the time of publication, but the Solana Status Twitter account reported that 7,767 mobile and browser extension wallets were affected as of 5:00 a.m. UTC.

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“This does not appear to be a bug with the Solana core code, but in software used by various software wallets that are popular among users of the network,” said Solana status.

Related: Ongoing Solana-based wallet hack sees millions drained

ZB.com, which claims to be “the world’s most secure exchange of digital assets,” was founded in 2013 under the name CHBTC.com, according to its website. The company, which was previously headquartered in China, suspended operations in the country in September 2017 following the ban on crypto exchanges by local regulators.

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TBEN contacted ZB.com but received no response at the time of publication.