After Nomad And Solana, Another Crypto Hack As This Exchange Funds Missing

ZB Exchange Hack Worth $3.60 Million? In a latest, a hack on ZB crypto exchange led to the compromise of nearly $3.60 million worth of assets
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After Nomad And Solana, Another Crypto Hack As This Exchange Funds Missing

With back to back security compromises with Nomad and Solana, the crypto ecosystem suffered big jolts this week. In a fresh case of a similar compromise, a cryptocurrency exchange is believed to have lost funds. Although the security compromise and the resultant impact is yet to ascertained, the doubts certainly add to growing concerns. Hacks involving loss of funds is not new in the crypto ecosystem, but a series of such events could have a huge impact in the current scenario.

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ZB Exchange Hack Worth $3.60 Million?

In a latest, a hack on ZB crypto exchange led to the compromise of nearly $3.60 million worth of assets. According to crypto related Twitter account CertiK Alert, the exchange has been hacked and assets were transferred to the hackers’ wallet. The hack resulted in a loss of 2224 ETH worth $3.60 million, they said.

“ZB exchange have been hacked resulting in 2224 ETH (around $3.60 million) being transferred into the hackers wallet. The funds are currently in EOA 0x2644 and will highly likely be sent to Tornado Cash.”

In the case of Nomad attack, around $200 million were lost from the bridge protocol. From over 41 addresses identified, the hackers stole millions of dollars. On Wednesday, over 7,000 wallets were said to have been compromised on Solana. At least $8 million worth of crypto assets were stolen by the hackers.

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Halt In ZB Transactions

Adding to the suspicion is the company’s suspension of transactions. On Tuesday, the exchange said it had suspended deposits and withdrawals on its platform. It cited failure of core applications for the halt in services.

“Due to the sudden failure of some core applications, it still takes time to troubleshoot the problem. Deposit and withdrawal services are now suspended.”

PeckShield, a blockchain security and data analytics company, raised doubts over the suspension of transactions. It wondered whether ZB exchange really was under maintenance or its hot wallet was hacked. According to CoinMarketCap, the ZB exchange, launched in 2013, has a reasonable trading community. The platform differentiates itself through its highly curated listing process and rare launchpad offers, it describes. Interestingly, the crypto exchange calls itself “The World’s Most Secure Digital Asset Exchange.”

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Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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