Currently unknown hackers breached between 80 and 90 wallets at GateHub and stole 23.2 million Ripple coins worth approximately $9.5 million USD. The company openly admitted to the breach in a public statement and have notified the affected users. It has not been confirmed exactly how the breach took place at this time. It was noted that an increase in API calls, all with valid tokens, took place around the same time as the attack. GateHub’s team currently believes that the attackers utilized the API in order to compromise their systems, however they are unsure how. The company has since disabled all API tokens until the vulnerability is discovered and mediated. Cryptocurrency is a tempting target for many as it is notoriously difficult, although not impossible, to trace once criminals begin to move it around. In this case, the attackers have already used exchanges and mixing services to launder the funds.
By Akshay Rohatgi and Randy Pargman About this Student Research Project Binary Defense’s mission is