• 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.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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