Within the statement, GateHub revealed that it was notified by a number of its customers and community members that the funds on their wallets had been unavailable. The firm estimated that hackers managed to compromise about 100 ‘XRP‘ Ledger wallets.
Although the firm failed to initially detect any wicked activities on its platform, though it began an investigation on the matter, whereby it discovered multiple API [Application Programming Interface] calls returning from a just a few IP addresses. This might supposedly be the way the offender got access to the encrypted secret keys.
Community member Thomas Silkjær – one among those who warned GateHub regarding the breach – ‘revealed’ a report on the hack, adding:
“On 1st June, we were made aware of a theft of around 201,000 XRP … and started our investigation. It found that the account robbed was managed through gatehub.net, and that the offended account [r9do2Ar8k64NxgLD6oJoywaxQhUS57Ck8k] had hacked substantial amounts from many other XRP accounts, probably to be or have been managed via Gatehub.net.”
Silkjær added that as on 5th June, nearly 23,200,000 XRP [around $9.5 Mln at the reporting time] were hacked from over 90 victims, of which around 13,100,000 XRP [$5.37 Mln] had already been laundered via exchanges and crypto mixing services.
GateHub added that it’s still conducting the investigation, and thus can’t post any official conclusions, as for now.
As ‘reported‘ earlier this month, renowned ‘blockchain‘ intelligence firm named ‘Chainalysis’ claimed that around 64% of the total ransomware attack cash-out ways involve the laundering of funds via cryptocurrency exchanges. Among other ransomware cash-out ways analyzed, about 12% involve crypto mixing services and 6% use P2P [peer-to-peer] networks, whereas others went via merchant services suppliers or dark web marketplaces. About 9% of ‘ransomware‘ proceeds reportedly stay un-spend.