CoinSpot Crypto Exchange Suffers $2M Hot Wallet Hack

CoinSpot Hacked for $2.4 Million

Australian crypto exchange CoinSpot has reportedly been hacked for $2.4 million in what appears to be a “probable private key compromise” of at least one of its hot wallets.

ZachXBT, a blockchain sleuth, revealed two transactions that entered the alleged hackers wallet in a post on his Telegram channel. From there, the funds were sent to the Bitcoin (BTC) network via ThorChain and Wan Bridge.

CertiK, a blockchain security firm, told Cointelegraph in an email that the exploit was likely due to a “probable private key compromise” on at least one of CoinSpot’s hot wallets. According to Etherscan, a transaction for 1,262 Ether (ETH) — worth $2.4 million at present — was sent from a CoinSpot wallet to the alleged hackers wallet.

CoinSpot, founded in 2013, is the largest crypto exchange in Australia, with over 2.5 million customers. It is regulated by AUSTRAC and has been granted an Australian Digital Currency Exchange License. When asked for comment, CoinSpot did not respond to Cointelegraph.

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