NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

This European Crypto Exchange Was Just Hacked for $5 Million

Nick Chong
Nick Chong
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In the first crypto exchange hack of this bull market, a European crypto exchange was hacked for around $5 million. Only the exchange’s “hot” wallets were compromised per their report.

A hot wallet is a cryptocurrency wallet connected to the Internet. For exchange, hot wallets are often used to enable fast withdrawal of one’s holdings, as the opposing “cold” wallets are meant to take some effort to access.

Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000

Crypto Exchange Hacked For $5 Million

Announced on Twitter and in Telegram, six of the European crypto exchange ETERBASE’s hot wallets were recently compromised. These wallets are for the exchange’s Ethereum (and ERC-20 tokens), Tron, Tezos, Bitcoin, Algorand, and XRP.

According to The Block, at least $5 million worth of cryptocurrency was withdrawn from the hot wallets.

NewsBTC’s analysis of the blockchain data indicates that many of the Ethereum tokens the hacker(s) obtained have been dumped for ETH.

This is not the only crypto hack that has taken place over recent months.

As reported by NewsBTC, a long-time Bitcoin investor saw 1,400 BTC swiped from his wallet in an exploit. The pseudonymous investor explained on GitHub that he was prompted to update his Electrum Wallet with a false alert and accepted the update, which triggered the transfer of funds.

The Rise of Decentralized Exchanges

An interesting trend to watch is the ongoing flight of liquidity and crypto users from centralized exchanges to decentralized exchanges.

There’s a non-zero chance that during this market cycle, centralized exchange hacks won’t be as prominent due to growth in decentralized exchange.

For one, Ethereum’s Uniswap has been regularly processing over 100,000 trades a day worth hundreds of millions of dollars. The volume figure, at least, is higher than that of many leading exchanges.

The liquidity on some decentralized exchange crypto pairs, too, far eclipse traditional exchanges. Curve.fi allows one to trade stablecoins with extremely low slippage and fees, even if you’re looking at a transaction worth millions of dollars.

Of course, centralized exchanges always need to exist in some capacity, or else fiat capital will not enter the digital asset markets.

But again, with the rise of crypto being traded on-chain as opposed to off-chain, centralized exchange hacks may decrease in severity.

Related Reading: These 3 Trends Suggest BTC Is Poised to Bounce After $1,000 Drop
Photo by Markus Spiske on Unsplash
Charts from TradingView.com
Price tags:
This European Crypto Exchange Was Just Hacked for $5 Million
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Price Risks Market Crash After Closing Below Final Weekly Resistance

Crypto analyst Rekt Capital has warned about a potential crash for the Bitcoin price, after the flagship crypto closed below...

Scott Matherson 5 hours ago
bitcoin

Bitcoin Network Volume Echoes Mid-2021 ‘Stable Equilibrium’ – Is A Big Move Brewing?

After rebounding from a local bottom of around $75,000 in April, Bitcoin (BTC) appears to be stuck in the $100,000...

Ash Tiwari 6 hours ago
Ethereum

Ethereum Indecision Masks A Bullish Setup – Here’s Why BTC Holds The Key

CRYPTOWZRD, in his latest update on X, highlighted Ethereum‘s indecisive close, suggesting the market is still searching for clear direction....

Godspower Owie 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Michael Saylor Drops $500 Million On Bitcoin—What’s His Next Move?

Christian Encila 1 hour ago
Solana Hits New Milestone: Wallets Holding 0.1+ SOL Reach Record High

Solana Hits New Milestone: Wallets Holding 0.1+ SOL Reach Record High

Sebastian Villafuerte 3 hours ago
TRON Shows Adoption Strength As Volume Still Led By Big Transfers – Details

Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details

Sebastian Villafuerte 4 hours ago

Premium Sponsors

Press Releases

  • Ethereum Enthusiasts Easily Earn a Stable Daily Income of...

    3 hours ago
  • Hledáte nejlepší kryptoměny k nákupu v roce 2025

    Hledáte nejlepší kryptoměny k nákupu v roce 2025? Tady...

    6 hours ago
  • Cauți cele mai bune criptomonede de cumpărat în 2025?...

    6 hours ago
  • Tražite najbolje kriptovalute za kupnju u 2025. 4 top izbora za vaš portfelj

    Tražite najbolje kriptovalute za kupnju u 2025.? 4 top...

    6 hours ago
  • 今が狙い目の割安アルトコイン特集|注目すべき銘柄をチェック!

    ...

    11 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.