EtherDelta Suffered a Hack and Suspended Service after the Attack
EtherDelta is the latest cryptocurrency exchange that suffered a hacking attack. Several other hacks linked to the cryptocurrency market have been reported in the last few weeks, showing an increased risk to customers and investors.
EtherDelta is one of the most popular exchanges for purchasing cryptocurrencies, mainly for altcoins. Its popularity is driven by the fact that EtherDelta is one of the exchanges that don't require user verification and it only supports crypto-to-crypto trading. The company announced its decision to suspend service after the hack occurred.
Hackers compromised EtherDelta's Server
EtherDelta said that it believed intruders managed to access and compromise its server. The company also stated that the malicious attack gained temporary access to its data. According to EtherDelta, an investigation into the case is still ongoing. Meanwhile, the exchange asked all users to cease from using the site.
The company then came with another update on the situation and revealed that the attacker managed to take control over the EtherDelta domain which could allow access to users' wallets, which could subsequently be emptied. The company has not revealed if any users were affected so far and if people's wallets were emptied.
The company's statement said:
⚠️ 2/2 *BE AWARE* The imposer's app has no CHAT button on the navigation bar nor the offical Twitter Feed on the bottom right. It is also populated with a fake order book.— EtherDelta (@etherdelta) December 20, 2017
Several cryptocurrency exchanges reported hacks
The increase in the prices of several cryptocurrencies and the high interest of investors for this market has surely also led to increased risks of hacking attacks. One of the most recent such severe attacks actually targeted a South Korean exchange, Youbit. The company announced that due to the hack it decided to file for bankruptcy. In fact, Youbit experienced two hacks in 2017.
Another company which reported a recent hack was NiceHash, which claimed that it lost tens of millions of dollars to hackers. Last month, Tether, a company that works with several exchanges, also reported a hacking attack. The company said that intruders managed to steal $31 million from it.