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Detail Analysis

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Date:

Status:

Count:

Contributor:

July 12, 2020

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Verified

1

zerofriction.io

Loss Amount:

3,100,000

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Recovered Amount:

-

Currency:

Dollars, BTC

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Bitcoin

Poor Key Management

Extended Method:

Private key leak, hot wallet

Data Sources:

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On July 11, fraudsters hacked into digital payment platform Cashaa’s over-the-counter desk, which serves Indian customers, and stole 336 Bitcoin (BTC), worth approximately $3.1million. Although Cashaa stated that there have been no users affected by this hack, they did put a hard stop on all crypto-related transactions for 24 hours to understand the incident better.

Cashaa is a United Kingdom-based crypto-friendly bank that deals with Bitcoin OTC operations and works with major traditional and crypto exchanges in India. According to an official statement, the incident took place with an OTC transaction manager based in East Delhi, India, whose personal computer was attacked with malware.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.