Why UAE-Based M2 Crypto Exchange Lost $13.7M in Hack

Quick Summary:

The incident occurred on October 31, at around 3:16 AM local time, as the exchange reported a targeted attack on its hot wallets across multiple blockchain networks, including Bitcoin, Ethereum, and Solana.

UAE-based crypto exchange M2 crypto exchange recently encountered a cybersecurity breach, resulting in the loss of $13.7 million in digital assets.

Following the attack, the M2 crypto exchange issued a public statement reassuring customers of its commitment to full fund restoration.

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Article Details

Author / Journalist: Ronny Mugendi

Category: Crypto

Markets: India

Topics: 24/7 Cryptocurrency News Crypto hacks Crypto Exchanges

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 19:48:31 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 428 words

Reading Time: 3 minutes read

Sentences: 36 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 23366441

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 38 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #59

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