Another Suspected Hack at a Cryptocurrency Exchange: Large Outward Transfers

According to a statement published by cryptocurrency security company Cyvers, cryptocurrency exchange platform Remitano was hacked and lost $2.7 million worth of funds across three different chains.

Cyvers said that its artificial intelligence learning-based system detected multiple abnormal transactions on the Remitano exchange, resulting in the theft of funds from the Ethereum, Tron and Binance Smart Chain networks.

The company contacted Remitano’s team to stop additional losses and begin efforts to recover the suspected stolen funds.

Cyvers also explained that 1.4 million USDT in Ethereum and 537,000 USDT in Tron were able to be frozen and recovered, preventing further damage to Remitano users.

However, the status of the remaining $763,000 in funds on Binance Smart Chain is still unclear. Cyvers said he worked closely with Remitano and other relevant parties to investigate the incident and track down the hackers.

Remitano, a relatively small cryptocurrency exchange, published a note stating that the coin deposit/withdrawal process was under maintenance after the hacking incident and announced that the situation would be resolved within 48 hours.

*This is not investment advice.