British exchange hacks and suspends lootings

The main cryptomorphic exchange, Exmo, lost 5% of its assets in an apparent hacker attack.

British Exchange Exmo suffers hacking and suspends lootings
Exmo, a UK-based exchange of cryptomites, suffered a major security breach, causing the platform to suspend all lootings.

According to a 21 December security warning, Exmo detected suspected withdrawal activity on Monday, with large quantities of major currencies such as Bitcoin (BTC) leaving the platform’s hot wallets.

Maria Stankevich, head of business development at the Exmo exchange, told the Cointelegraph that the incident „is nothing too serious,“ as the hot wallets affected account for 5% of total assets held by the exchange. „Let’s stress that all the assets in the cold portfolios are safe,“ the announcement said.

According to the announcement, other cryptomaps affected included Ether (ETH), XRP, Tether (USDT), Zcash (ZEC) and Ethereum Classic (ETC). The exchange mentioned corresponding crypto portfolios that were likely to be involved in the hack, asking the global exchanges to block the associated portfolios.

Stankevich noted that the exchange has not yet calculated the value of the losses, claiming that Emo is now focused on tracking the movement of withdrawn funds.

He launched a security investigation and also reported the case to the London police. The company asked users not to deposit funds in Exmo’s portfolios until the problem was resolved. „We want to assure you that if any user funds are affected by this incident, they will be fully covered by Exmo,“ the company said.

In early December, Exmo received a temporary registration from the UK Financial Conduct Authority, allowing it to continue trading for a long period until 9 July 2021.