Hackers steal $9.5 million from GateHub cryptocurrency wallets.

Image: GateHub

Unofficial investigation puts the number of victims between 80 and 90 users. Unknown how hackers stole users' funds.

Hackers have stolen 23.2 million Ripple coins (XRP), worth nearly $9.5 million, from the users of the GateHub cryptocurrency wallet service.

The company admitted to the security breach in a preliminary statement posted on its website.

While the staff is still investigating the incident that led to customer funds being siphoned from GateHub wallets, the company said it believes the hacker abused its API to carry out the attacks, albeit it is unsure how.

"We have however detected an increased amount of API calls (with valid access tokens) coming from a small number of IP addresses which might be how the perpetrator gained access to encrypted secret keys," the company said.

"That, however, still doesn't explain how the perpetrator was able to gain other required information needed to decrypt the secret keys.

Full story at ZDNET.

By Catalin Cimpanu.