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Gatehub stolen of $9.5 million by hackers

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Gatehub stolen of $9.5 million by hackers

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XRP worth 23.2 million or nearly $9.5 million have been scammed from Gatehub users-wallet. The hackers are still on the run. The hack was confirmed by them on their website.

Officials in the company are still looking into the matter that led funds being transferred from the wallets of the users at GateHub. The firm is of the view that hackers would have exploited the API of the company, thought the details are still unsure. 

According to the company

“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.”

With the above explanation given iti is still unsure on how they could have gotten access to decrypt the secret keys. 

GatHub further said:

“All access tokens were disabled on June 1st after which the suspicious API calls were stopped.”

A team of XRP community members who work on preventing and countering scams on the XRP Ledger have made a study and have out a lot more details of the thieft. A few details are history of suspicious transactions and the 12 addresses of XRP rom which the money was stolen. 

According to, Thomas Silkjær, member of the forensic team  said:

“As of writing this report, 2019-06-05 16:00 UTC, we gather that ~23,200,000 XRP has been stolen from 80-90 victims, of which ~13,100,000 XRP have already been laundered through exchanges and mixer services.”

An official statement would be posted by the company at a later stage after a thorough investigation has been done. 

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.
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