GateHub provides update on the $10 Million XRP Hack


  • Gatehub were a victim to a hacking where some $10 million of XRP were stolen earlier in the month.
  • The company has announced they are making good progress in recovering some of the stolen XRP.

GateHub has updated the cryptocurrency community, as they push efforts in trying to recover the hack it encountered earlier in June. Hackers did manage to crypt-jack some $10 million worth of XRP from the cryptocurrency wallet’s platform.

An official statement was released as they tried to reassure users of progress that is being made:

We are working on improving our risk management system, on building closer connections with the community and crypto investigating officials to react faster and sharper should the situation repeat.

The company did detail that they have GateHub recovered over 500,000 XRP currently worth around $200,000. The company says it plans to do more in the coming days and weeks to rescue the remaining stolen funds.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

MATIC Price Prediction: Polygon prepared to take the pole position

MATIC price climbed the cryptocurrency market leadership board on July 21 with a 29% gain. The bounce followed a test of the 200-day simple moving average (SMA) and an oversold reading on the daily Relative Strength Index (RSI). 

More Polygon news

Shiba Inu Price Forecast: SHIB has a lot to prove before bull’s ambitions can dominate

Shiba Inu price has been filled with complications, each turn higher diffused by heavy organic selling pressure or a general risk-off trend in the cryptocurrency market. The July 21 spike higher, reaching 20% at 1 point, did break the downtrend beginning Jul 6. 

More Shiba Inu news

Cardano might pull back to $1.11 before heading higher

Cardano price has seen a quick run-up after approaching the trading range’s lower limit. While this uptick in ADA’s market value was obvious, investors should be aware of a minor pullback before the so-called “Ethereum killer” embarks on another leg up.

More Cardano News

Dash price must overcome imposing resistance to breakout

A brief technical and on-chain analysis on Dash price. Here, FXStreet's analysts evaluate where DASH could be heading next as it consolidates.

More Dash News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP