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Market News

ZB.Com halts Withdrawal After a Possible $4.8M Hack

ZB.Com cited the sudden failure of some core applications as a reason for the halt.

Written By Rajpalsinh Rajpalsinh
Published August 4, 2022 11:11 AM
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ZB.Com halts Withdrawal After a Possible $4.8M Hack

Blockchain analyst firm Peckshield observed the transfer of $4.8 million worth of crypto from ZB.Com, a crypto exchange and warned that it could be done by hackers following the suspension of withdrawals.

Is @ZBexchange under maintenance or might its hot wallet be hacked ? https://t.co/N3siS1RAix https://t.co/9oGhhrXXAi pic.twitter.com/OdrDwocf1A

— PeckShield Inc. (@peckshield) August 3, 2022

Peckshield stated that hackers moved out 21 different types of crypto tokens from “the world’s most secure digital asset exchange” on Monday, which includes USDT, AXS, APE, SHIB, MATIC, and others. 

On Tuesday, ZB.Com announced the suspension of withdrawals due to the “sudden failure of some core applications.” Also, it asked its users not to “deposit any digital currency before recovery.” 

While crypto is in a bloodbath situation, many hackers are adding fire to this turmoil in the market. Recently, many crypto firms have suffered large-scale cyberattacks on their platforms. 

Earlier this week, cross-chain bridge Nomad was drained of its funds in exploitation, which led to a nearly $200 million loss.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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