Crypto exchange ZB.com blocks withdrawals after a $4.8 million hack

ZB.com is the next name to add its name to this week’s string of hacked crypto platforms.

ZB, Which Itself ‘World’s Most Secure Digital Asset Exchange’, Seemingly Hacked

Crypto exchange ZB.com halted withdrawals on August 2, when faced with approximately $4.8 million being withdrawn from its hot wallet in an attack.

As reported by blockchain security firm PeckShield, a significant amount of money including more than 20 tokens has moved from ZB.com’s hot wallet to various addresses for sale. These tokens were sold on several CEX exchanges, in exchange for 2,224 ETH ($3.6 million).

ZB.com, formerly CHBTC.com, is one of the oldest cryptocurrency exchanges on the market. The platform was previously based in China and was among the exchanges that had to move out of China after the country banned crypto trading in 2017.

On the other hand, ZB.com’s latest hack also follows a series of attacks that occurred this week that was “triggered” by the Nomad cross-chain bridge, causing more than $176 million in damage, along with a series of names. Large project age is affected. Next was the security incident on the Solana network, resulting in nearly 8,000 user wallets losing their assets for unknown reasons.

More interestingly, this is also an opportunity for many leading crypto exchanges to start promoting cold wallets as well as security systems when placing assets on the exchange, typically the CEO of Binance has continuously updated the service. Solana works for the community but still does not forget to advertise his platform.

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