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Massive Hack Targets Remitano Exchange: Attackers Steal $2.7M in Ethereum and TRON

Subtitle: Tether Freezes Stolen Funds, Suspected Money Laundering Activities Detected on Multiple Chains

In a shocking turn of events, Remitano, a popular cryptocurrency exchange, fell victim to a sophisticated hacking attack, resulting in the loss of over $2.7 million from its Ethereum and TRON wallets. The incident has sent shockwaves through the crypto community, raising concerns about security vulnerabilities and the potential for money laundering activities across multiple blockchain networks.

Details of the Attack:

According to PeckShield, a blockchain security company, the attackers behind the Remitano heist made cunning moves to cover their tracks. Tether, the leading stablecoin issuer, swiftly responded to the situation by freezing two addresses on both the Ethereum and TRON networks suspected to be linked to the attack. This proactive step potentially saved 2.7 million USDT from being lost.

On the Ethereum network, the hacker exploited the vulnerability to drain funds, which included $USDC and $Ankr. The stolen coins, equivalent to approximately 163 ETH valued at around $264,000, were promptly transferred to HitBTC, a well-known cryptocurrency exchange.

Investigators discovered that the hackers on the Binance Smart Chain (BNB) also played a role in this elaborate scheme. Using an intermediary address, they laundered approximately 13,000 BNB (equivalent to $2.7 million) through various transactions. The funds were either directly transferred to several reputable exchanges including OKX, ChangeNow, MEXC, and Binance, or routed through popular privacy-focused platforms such as TornadoCash and SWFT Blockchain.

Money Laundering Activities Identified:

PeckShield’s investigation further revealed that the perpetrators ventured beyond the initial stolen funds. Some of the illicitly acquired assets were bridged to the Arbitrum network and subsequently transferred to the BSC Token Hub, effectively concealing their origin.

Concerns and Repercussions:

This brazen attack on Remitano serves as a stark reminder of the persistent risks faced by cryptocurrency exchanges and wallet providers. Despite advancements in security measures, hackers continue to exploit vulnerabilities and employ intricate tactics to carry out such attacks. The incident calls for heightened vigilance and stringent security protocols across the entire crypto ecosystem.

The recent hacking incident targeting Remitano exchange has left its mark on the cryptocurrency world, with over $2.7 million stolen across the Ethereum, TRON, and BSC networks. The swift actions taken by Tether to freeze the stolen funds demonstrate the importance of industry collaboration and the role that stablecoin issuers can play in mitigating such attacks.

While the investigation is ongoing and efforts are underway to trace and recover the stolen funds, this incident serves as a stern reminder for all stakeholders in the crypto space to prioritize security measures. Crypto exchanges, wallet providers, and users should remain vigilant, employing best practices to ensure the safety of their digital assets.

Disclaimer: The information presented in this article is based on the public statements and findings of third-party security companies. It is advisable to consult official statements from Remitano and other parties involved for the most accurate and up-to-date information.

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