We recommend that you speak to your attorney, accountant, and financial advisor before making investment decisions. You agree that HackBitcoinWallet, its owner, staff and affiliates are completely harmless. Additionally, HackBitcoinWallet may promote the products and services of other companies and be compensated for doing so. HackBitcoinWallet does not guarantee any particular result and any information provided will be used at your own risk. Information provided by HackBitcoinWallet or its owner, staff, or affiliates should not be relied upon to conduct investment transactions, and HackBitcoinWallet will not be responsible for any loss, results, or lack thereof. We do not endorse, recommend, or sponsor any financial investment, including but not limited to real property, stocks, funds, securities, or cryptocurrencies. It is your responsibility to evaluate any information provided for its accuracy and completeness. Any HackBitcoinWallet information should be considered educational and intended for a general public, not tailored to any specific individual. On 21st of this month, hackers stole $30 million worth of cryptocurrency after hacking Tether, a start-up firm known for offering dollar-backed digital currency.Īt the time of publishing this article, the current status of the investigation is unknown since both companies tweeted about the issue one day ago.© Copyright 2021 HackBitcoinWallet - All Rights ReservedĪt HackBitcoinWallet, we are not financial advisers and nothing contained in this document, our products, our websites, on social media, or from our owner, staff or affiliates, should be construed as financial, tax or legal advice. This is second cryptocurrency related security breach in November. “At this moment neither Coinpouch nor Justin, the founder and lead developer of Verge,” said the statement. After few days, more users had reported similar problem forcing the company to dig further, and found that one of the Verge nodes was compromised. Verge has also blamed CoinPunch for not securing their platform meanwhile in their official statement, CoinPunch said that on the 9th November 2017, a CoinPouch wallet users reported missing Verge coins, but upon investigating, it turned out to be a network related issue. Therefore, it is unclear which wallet address is correct. It might be possible that Verge tweeted the wrong wallet address. seems the coins have ended up at this address: DM5Esw71BnTdJzX1FWpNLvdnrLuCS91v4N Our condolences to all users that had their funds stored on coinpouch. A look at the address shows there are 126 million Verge coins (XVG 126,138,145) in the wallet which is around $668,532. Think of it like a bank vault that requires two or more keys to open.
![blockchain wallet hack blockchain wallet hack](https://selfkey.org/wp-content/uploads/2019/09/cryptocurrency-exchange-hacks.jpg)
These wallets require multiple cryptographic keys to open. Protocols that wrap BTC, and many other third-party custodial bridges like it that wrap other tokens, are governed by a multisig (multi-signature) wallet to increase security.
![blockchain wallet hack blockchain wallet hack](https://1.bp.blogspot.com/-k1JTO65Qk-E/X3ehzdIv8HI/AAAAAAAABG4/mZSXCWdPHJMfgJQOuT9_jqIqC5S9thwKwCLcBGAsYHQ/s1920/Bitcoin%2BHack%2BBlockChain%2B2020.png)
The company did share alleged wallet address ( DM5Esw71BnTdJzX1FWpNLvdnrLuCS91v4N) where stolen funds are being currently held. MultiSig Wallets - The Not-So-Gold Standard. The official Twitter account of Verge Currency has also acknowledged the hack and hopes that something will be done to bring the stolen funds back, since that the “Thanksgiving” related holidays in the United States might slow down the investigation.
![blockchain wallet hack blockchain wallet hack](https://i.pinimg.com/originals/8e/af/f2/8eaff2d4374ffc9c9c14f6031cd5513e.png)
We are preparing a statement of the hack and the actions we are taking regarding the hack. We discovered a hack of a node that is connected to Coinpouch which resulted in the loss of user's funds. Another day, another cryptocurrency wallet hacked – This time it is Blockchain Wallet CoinPouch.ĬoinPunch, a Plano, Texas-based company providing multi-currency crypto wallets announced on Twitter that it suffered a breach in which one of its nodes that stored Verge currency got affected and resulted in the loss of user’s funds.