Hackers may be responsible for removing $4.8 million from crypto exchange ZB.com: PeckShield

by · August 4, 2022

Blockchain investigator PeckShield has reported $4.8 million in crypto 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 starting on Monday, including Tether (USDT), Shiba Inu (SHIB) and Tesra (TSR). According to the blockchain investigator, the funds totaled approximately $4.8 million at the time of publication.

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

Many crypto users have been affected by some new multi-million dollar hacks. In June, an exploit led to the removal of $100 million from the Horizon Bridge, a cross-chain bridge that enabled token transfers between the Harmony blockchain and other networks. Earlier this week, hackers drained $200 million worth of crypto from the Nomad token bridge.

Crypto Twitter users also reported Wednesday that hackers had gained access to their funds using an exploit that targeted Solana (SOL) wallets. The situation is still ongoing at the time of publication, but the Solana Status Twitter account reported that 7,767 wallets across mobile and browser extensions had been affected at 05:00 UTC.

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

Related: Ongoing Solana-based wallet hack that sees millions drained

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

Cointelegraph contacted ZB.com but did not receive a response at the time of publication.