Hacked Eterbase Funds Have Been Tracked To Binance And Huobi

The hacked Eterbase funds of the European platform have been tracked to Binance and Huobi as well as HitBTC. Binance’s CEO CZ said that his team is working on this as we find out more in our latest cryptocurrency news.

A few days after the European crypto exchange was hacked out of $5.4 million worth of digital assets, the hacked Eterbase funds have been tracked to Binance, Huobi, and HitBTC. The company asked for assistance from the exchanges and reassured the users that the exchange will endure. Launched back in 2019, Eterbase is a small Slovakia-based exchange that describes itself as “the first regulation-compliant European crypto exchange.”

The company announced on its Telegram channel that a few of its hot wallets have been compromised including the ones of Ethereum, Tron, Algorand, Ripple, Tezos, and Bitcoin addresses. Eterbase didn’t disclose the details besides that it has started an investigation but the exchange admitted that the total amount that was stolen from the exchange reached $5.4 million worth of assets. Eterbase also noted that it had informed some of the law enforcement agencies and they started a joint investigation.

Despite the developments, the company said that the operations of the exchange will continue after a few renowned global companies completed a security audit. Eterbase cautioned its users that they still have enough capital to meet all of the obligations towards its users and at the same time, they reassured everyone that this will not stop their operations nor their journey. The company also revealed today that the investigation resulted in tracking a huge part of the stolen funds to three popular crypto exchanges, Huobi, HitBTC, and Binance. CZ, the founder of Binance crypto exchange was the first to respond and said:

 “Our security team was on this quite early. Will do what we can to assist.”

The major crypto exchange has launched an initiative last year that is called the Bulletproof Exchanger which aims to solve similar situations. It identifies and tracks malicious activity that involves cryptocurrency assets or companies within the ecosystem. Once it discovers developments like these ones, Binance partners with authorities to take them down.

The Bulletproof exchange assisted in a few investigations previously when Binance collaborated with the Ukrainian law enforcement agencies to identify the group of cybercriminals responsible for stealing more than $42 million via ransomware attacks and crypto extortions.