Bisq DEX Hack: Attacker Exploited A Flaw To Steal 250K
Hackers don’t care whether we’re in a global crisis or not, and they continue to do their ‘job.’ Attackers are perfecting their skills during this during the economic crisis that’s set to get even stronger.
Crypto exchanges are at risk as well these days, and the latest one that seems to have been under attack is Bisq.
Bisq DEX revealed a recent hack
The decentralized exchange Bisq announced that a hacker recently exploited a software flaw in order to steal more than $250k worth of crypto from users.
Bisq allows users to exchange crypto anonymously, and it disrupted trading this Tuesday night after it found a critical security vulnerability.
18 hours after the halted trading, the exchange said that it took an “unprecedented” step after finding an attacker managed to exploit a flaw in the software to steal cryptos from other users.
“About 24 hours ago, we discovered that an attacker was able to exploit a flaw in the Bisq trade protocol, targeting individual trades in order to steal trading capital. We are aware of approximately 3 BTC and 4,000 XMR stolen from 7 different victims. This is the situation as we know it so far,” Bisq said in a statement to CoinDesk.
The same online publication mentioned above noted that the value of the crypto stolen was roughly $22,000 worth of bitcoin (BTC) and $230,000 worth of Monero (XMR). In total, that comes to more than $250,000.
We recommend that you check out Bisq’s official notes about what had happened at the beginning of this week.
Other than this, the crypto market is pretty bloody today and Bitcoin fell below $7,000, which was a significant resistance level.
Despite the global crisis in the middle of which we are due to the coronavirus pandemic, there are various optimistic predictions regarding the price of Bitcoin, and the primary catalyst is the halving, which is scheduled for the next month.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.