Remitano Crypto Exchange Faces Possible Hack, $2.7 Million Withdrawn in Suspicious Transactions

Last updated:
Journalist
Journalist
Hassan Shittu
About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Source: Pixabay

On September 14, crypto exchange Remitano faced an alarming situation with a suspicious withdrawal of approximately $2.7 million in cryptocurrencies, triggering concerns of a potential security breach.

Around 12:45 UTC, Cyvers, a blockchain analytics platform, alerted the crypto community about these potentially suspicious activities. They noted that a well-known Remitano hot wallet initiated transfers to an address without transaction history.

This transaction involved about $1.4 million in Tether (USDT), $208,000 in USD Coin (USDC), and 104,000 Ankr tokens (equivalent to $2,000 at the time).

In a swift response, Tether took action by freezing the address, effectively halting any further movement of the USDT and thereby safeguarding $1.4 million of the drained crypto.

Later, at approximately 3:21 UTC on September 15, PeckShieldAlert reported a continued concerning development.

Remitano exchange faced more suspicious transactions, resulting in over $2.7 million draining from its Ethereum and TRON blockchain wallets.

According to, PeckShieldAlert, Tether took decisive action by freezing two addresses linked to the attacker on Ethereum, BCH, and TRON. This move secured the entire $2.7 million worth of USDT.

PeckShieldAlert further disclosed that the individual operating on the Ethereum blockchain exchanged the stolen USDC and Ankr tokens for approximately 163 ETH, valued at around $264,000, and subsequently transferred these funds to the HitBTC exchange.

Lazarus Group Suspected in Wave of Crypto Exchange Hacks, Leading to Over $200 Million in Stolen Funds in 2023

In 2023, a concerning trend of crypto exchange hacks emerged, resulting in the compromise of private keys and the theft of significant amounts of cryptocurrency.

U.S. authorities have attributed these attacks to the Lazarus Group, a cybercrime organization believed to have affiliations with the North Korean government.

Among the notable incidents, on September 4, the Lazarus Group is suspected to have orchestrated a $41 million hack of the crypto gambling platform Stake, as confirmed by the Federal Bureau of Investigation (FBI) in a statement released on September 7.

This group’s activities in 2023 have reportedly led to the theft of over $200 million worth of cryptocurrencies.

Additionally, on September 12, CoinEx, a cryptocurrency exchange, experienced a suspected attack that followed a substantial outflow of funds from four of its hot wallets, resulting in losses exceeding $27 million.

The Lazarus Group has also been held responsible for other high-profile hacks, including those targeting Alphapo, CoinsPaid, and Atomic Wallet.

These attacks collectively account for over $200 million in stolen funds in 2023. Alphapo, a payment processor, suffered suspicious withdrawals totaling over $65 million on July 23.

CoinsPaid, another payment service provider, lost over $37 million due to social engineering attacks in late July.

Additionally, users of Atomic Wallet experienced losses of a staggering $100 million in June, attributed to an unknown exploit.

More Articles

Price Analysis
$TRUMP Pumping Over 20% This Week: Presidential Memecoin Back for Good?
Arslan Butt
Arslan Butt
2025-02-15 15:26:50
Price Analysis
Study Predicts Bitcoin Surge to $1M by Early 2027: Is That Possible?
Arslan Butt
Arslan Butt
2025-02-15 14:45:43
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors