Cashaa Loses 336 Bitcoin Worth $3 Million to Hackers

Cashaa Loses 336 Bitcoin Worth $3 Million to Hackers

Cashaa Loses 336 Bitcoin Worth $3 Million to Hackers

Cashaa, a London-based Cryptocurrency exchange says it has lost 336 bitcoin, worth around $3.1 million to hackers.

The platform has ceased all crypto-related transactions, including withdrawals and deposits, as investigations into the breach begins.

Cashaa, via a tweet dated 11th July 2020 claimed that the hacker attacked one of its Blockchain.com wallets, which is used to store bitcoin (BTC) and make transfers from the exchange.

The attacker must have implanted malware into one of the exchange’s computers and the hack and transfer happened between 1:23 pm and 1:26 pm.

Cashaa chief executive officer Kumar Gaurav said “We are still investigating the damage caused by the incident and suspend all the withdrawals for 24 hours,”  “We have called the board meeting to decide whether the company will bear all the losses,” he added.

The exchange said the funds were sent to the bitcoin address: 14RYUUaMW1shoxCav4znEh64xnTtL3a2Ek.

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