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GateHub Users Lose $9.7m to Hackers

June 7, 2019

By: mirabiliscorp

Two cryptocurrency firms have come under attack over recent days with users of one, GateHub, suffering losses estimated at nearly $9.7m.

The cryptocurrency wallet service provider sounded the alarm in a statement on Thursday, claiming an investigation had been started after around 100 XRP Ledger wallets were compromised. The firm urged users to transfer their funds from these to a hosted wallet.

An XRP security community revealed in a separate post that, as of Wednesday, 23.2m XRP (Ripple) coins had been stolen, of which 13.1m had already been laundered.

However, the cause of the attack remains a mystery.

“API requests to the victim’s accounts were all authorized with a valid access token. There were no suspicious logins detected, nor there were any signs of brute forcing. We have however detected an increased amount of API calls (with valid access tokens) coming from a small number of IP addresses which might be how the perpetrator gained access to encrypted secret keys,” said GateHub.

“That, however, still doesn’t explain how the perpetrator was able to gain other required information needed to decrypt the secret keys. All access tokens were disabled on June 1 after which the suspicious API calls were stopped.”

More:  https://www.infosecurity-magazine.com/news/gatehub-users-lose-97m-to-hackers-1/

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