UK Bitcoin Heist: Global Exchanges Offer Help to Catch Cashaa Thief

THE UK-based cryptocurrency exchange Cashaa, which lost more than $3 million worth of Bitcoins to hackers, says exchanges around the globe have offered to help catch the culprit.

At the time of writing the company, based in London, had ceased all trades while it investigates the theft.

In a Tweet, a spokesman for the company said the hacker had targeted one of its Blockchain.com wallets and managed to syphon off 336 Bitcoins.

The heist, which early indications suggest took just minutes to execute, appears to have involved a piece of malware being injected into one of the exchange’s computers.

According to various reports, it appears that the hacker lives in Delhi, India, and that ‘coin mixing’ software has been used to make the stolen cryptocurrency even more untraceable.

Kumar Gaurav, Cashaa CEO, said: “We are still investigating the dame caused by the incident and suspended all withdrawals for 25 hours.

“We have called a board meeting to decide whether the company will bear all the losses.”

The address the stolen coins were routed to has been sent to exchanges around the world. Many have already agreed to support Cashaa by monitoring it and reporting any suspicious transactions.

“Everyone working in the crypto industry has to work very hard to bring the same level of security which currently a common person exercises with a bank,” Mr Gaurav continued.

“As of today, hackers are very confident to hack crypto addresses and move it through exchanges that are facilitating such laundering through their systems.

“Exchanges like these must be shut down and owners of these exchanges should be charged with money laundering facilitation crime.

“There is no issue in our banking services: all business account are working without interruption.”

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