Crypto Exchange M2 Secures User Funds After $13M Hot Wallet Breach
- The M2 Exchange hack has lost around $13 million.
- Hot wallets across Ethereum, Bitcoin, and Solana networks were targeted.
The cryptocurrency exchange M2, regulated as a Multilateral Trading Facility (MTF) and Custodian by the Financial Services Regulatory Authority (FSRA) hacked, resulting in a loss of $13 million from its hot wallets.
The exchange, M2 operates on Ethereum, Bitcoin, and Solana. The hackers targeted M2s hot wallets connected to the internet for quick transactions. Following the breach, the exchange acted rapidly, securing the situation and restoring customer funds.
M2 stated in its official announcement:
We would like to report that the situation has been fully resolved and customer funds have been restored. M2 has taken full responsibility for any potential losses, demonstrating our unwavering commitment to safeguarding our customers interests.
In addition, the exchange also introduced additional security measures and mentioned its cooperation with authorities to ensure intensive investigation and compliance.
During the security breach, attackers stole funds from multiple blockchain networks, including Ethereum (ETH), Bitcoin (BTC), and Solana (SOL). The addresses linked to the stolen assets have made known.
The address for Ethereum is 0x968b6984cba14444f23ee51be90652408155e142, while the Bitcoin address is bc1qu4kh7wa38xpkrp8frgxl4sak88wx0jug8n3vfj. The theft address of Solana is Ekko14NvgqdvNttUb8JjXkVGuUs6BTikjfN3hqW4LQoL. A web 3.0 platform disclosed a suspicious address received 3.7 million USDT, 97 million SHIB, and 1,378 ETH, which later swapped entirely to ETH.
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Read more: https://thenewscrypto.com/crypto-exchange-m2-secures-user-funds-after-13m-hot-wallet-breach/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
