Crypto Exchange Remitano Reportedly Exploited of $2.7 Million

• Amidst the chaos, Tether took prompt action, freezing $1.4 million in USDT.
• Remitano has not yet made any official comments about the breach so far.

The crypto exchange Remitano had a security breach yesterday. Suspicious activity was observed with the withdrawal of over $2.7M in cryptocurrency. Amidst the chaos, Tether took prompt action, freezing $1.4 million.

At around 12:45 PM, an alert was generated when a verified Remitano hot wallet began transmitting funds to an unknown address. A total of $1.4 million in Tether (USDT), $208,000 in USDC, and 2,000 USD worth of Ankr tokens were involved in the questionable transactions. This prompted an instant warning from Cyvers, a blockchain analytics platform, to the cryptocurrency sector.

Rising Cases of Exploits

Remitano has not yet made any official comments about the breach so far. However, this is not the first hack of its kind in 2023. Other breaches at cryptocurrency exchanges have already revealed private keys and resulted in substantial thefts.

The Lazarus Group is responsible for a large number of high-profile crimes this year. Including an assault on the Stake platform that was reported to have netted over $200 million. Not just financial firms, but even governmental institutions, have been the targets of their activities.

Moreover, the FBI has asked crypto businesses to be on high alert and to avoid any transactions with addresses it has identified as being related with the criminal organization.

According to blockchain security company SlowMist and on-chain investigator ZachXBT, the assault on cryptocurrency exchange CoinEx, which lost at least $55 million, was carried out by the same hacking organization Lazarus. Inadvertently revealing its address, the same one used in the previous Stake and Optimism breaches, helped identify the hacking outfit.

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