Stories
Slash Boxes
Comments

SoylentNews is people

posted by Fnord666 on Monday June 10 2019, @03:34AM   Printer-friendly
from the poof-and-they're-gone dept.

Submitted via IRC for AnonymousLuser

Cryptocurrency wallet GateHub hacked, nearly $10 million stolen

In a “preliminary statement” published on its blog on Thursday, cryptocurrency wallet service GateHub has warned that over 100 customers have had their ledger wallets hacked and funds stolen.

Dear Valued Customers,

Recently, we have been notified by our customers and community members about funds on their XRP Ledger wallets being stolen and immediately started monitoring network activity and conducted an extensive internal investigation.

Although we have not identified any action or omission by GateHub that may have facilitated or allowed this apparent theft to occur, we apologize deeply to all of our customers for this issue and pledge to get to the bottom of it.

At the moment we estimate that approximately 100 XRP Ledger wallets were compromised. So far it looks like all the victims had their XRP Ledger wallets hosted on GateHub, but we cannot yet rule out that some wallets were not.

GateHub says it has contacted affected users, suggesting that they transfer any existing balances in their Ripple coin (XRP) wallets to a hosted wallet.

Some reports estimate that millions of Ripple coins have been stolen in the heist.

The acknowledgement by GateHub that there appears to have been a serious security breach coincided with the publication of a technical report by GateHub community member Thomas Silkjær.

That report claims 23.2 million Ripple coins (estimated to be worth nearly US $9.7 million) had been stolen from 80-90 GateHub accounts, with just over half of the booty already laundered through exchanges and mixer services.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 2) by All Your Lawn Are Belong To Us on Monday June 10 2019, @04:52PM

    by All Your Lawn Are Belong To Us (6553) on Monday June 10 2019, @04:52PM (#853751) Journal

    Although I take your point and have advocated it myself previously there is also a concept that one can reach an intrinsic valuation [investopedia.com] on anything that you wish to. It just isn't an objective valuation, or more appropriately one has to likewise evaluate the scale or setting which agrees upon that value. It doesn't matter in the slightest if I decide Gold is now worth $1 an ounce, even though that is what I have intrinsically valued it at, because the scope of my valuation covers only myself. It does matter that the spot gold price is declared at $1,329 per ounce today if you want it or have it. Market value exists only because people agree upon the valuation of an item, true, but one can collect multiple occurrences of valuation to develop a sense of something's intrinsic worth in a given market. One can also reach a valuation on an item like food and water which have an inherent value of utility (i.e. I can consume this or build something that I value at X, which could be valued at price Y (or expect it to rise to value Y' later), so if an offer of Z>Y or Z>Y' should be taken now. If ZY then that implies reject it in favor of X. Anyone want to buy the Big Mac sitting on my desk for $100? No? Then I shall eat it and enjoy the price I overpaid for it...

    --
    This sig for rent.
    Starting Score:    1  point
    Karma-Bonus Modifier   +1  

    Total Score:   2