In an audacious attack on XRP Ledger wallet Gatehub, hackers are reported to have stolen over $10 million worth of Ripple (XRP).
Whilst Gatehub say that it’s reviewing suspicious activity on the wallet, reports of prior breaches of security at Gatehub are emerging.
Gatehub user Renier Janse van Rensburg in a Medium post as far back as 2017 wrote of hackers stealing 9.25 ETH and 17,917 XRP from his Gatehub wallet, suggesting that Gatehub security was extremely poor, and customer service ‘appalling’.
van Rensburg went further in trying to trace who and how his funds were stolen in 2017 from Gatehub.
In this latest hack on Gatehub, XRP enthusiast Thomas Silkjær, who first noticed the suspicious activity, estimates that the hackers have thieved nearly $10 million worth of cryptocurrency (23,200,000XRP), $5.5 million (13,100,000XRP) of which has “already been laundered through exchanges and mixer services.”
How is the Gatehub $10 million hack being dealt with?
There are other reports of hacks via Gatehub accounts, and all Wallets and exchanges in the crypto space are going to have their detractors when problems occur. It’s how professionally and effectively those hacks are dealt with that really matters.
The way that Binance’s CZ responded to the $40 million hack in May ’19 is testament to that. Respond well, and your customer confidence increases, not decreases.
Gatehub chief Enej Pungercar writes: “Recently, we have been notified by our customers and community members about funds on their XRP Ledger wallets being stolen and immediately started monitoring network activity, and conducted an extensive internal investigation,”
He says that 100 XRP Ledger wallets were compromised, and that it looks like all were hosted on Gatehub.
If you’ve got a Gatehub XRP Ledger wallet and are worried that your’s might be amongst the compromised, Gatehub say that it has personally emailed all affected by the theft. If you’ve not received an email from Gatehub, then they say that your account will not have been amongst those hacked.