$10 million worth of XRP stolen from Gatehub

Hackers were able to compromise Gatehub and steal around $10 million worth of XRP.
Gatehub estimated that some 100 XRP wallets had been hacked on their platform.

Ken Chigbo Independent Analyst

Gatehub, a wallet service provider, announced that hackers have compromised nearly 100 XRP Ledger wallets on their platform. The incident was announced by GateHub in a preliminary statement on June 6.

In the statement, GateHub detailed that it was informed by some of its customers and community members that funds from their wallets had been stolen. The company estimated that hackers were able to compromise around 100 XRP Ledger wallets.

The official company statement noted:

On June 1 we were made aware of a theft of 201,000 XRP … and immediately started investigation. It turned out that the account robbed was managed through Gatehub.net, and that the offending account (r9do2Ar8k64NxgLD6oJoywaxQhUS57Ck8k) had stolen substantial amounts from several other XRP accounts, likely to be or have been managed through Gatehub.net.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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