(Rejected ) UK Based Crypto Exchange Cashaa Has Lost 336 Bitcoin To Hackers

A cryptocurrency exchange called Cashaa has reported that hackers have stolen 336 bitcoin from one of its wallets. The company has ceased all cryptocurrency-related transactions for the time being.

According to UK based cryptocurrency exchange Cashha, over 336 Bitcoin (Bhackers have gained access to Cashaa stealing 336 Bitcoin (BTC) worth of cash from one of its wallet addresses. The unforeseen attack has caused the exchange to suspend its transactions. The hacking suspected to be perpetrated from India has prompted Cashaa to file a complaint with the Delhi crime bureau with acknowledgment number 20807200031555. Cashaa has also taken a proactive step by sharing the hacker’s Bitcoin address to partner crypto exchanges in order to block all cryptocurrency transactions.

Hacker’s Are Unrelenting in Their Raid

The activities of hackers have gained momentum in recent times with targeted attacks at both institutions and exchanges. Earlier this month, blockchain.news reported that the University of California San Francisco (UCSF) paid 116.4 Bitcoins estimated at $1.4 million to resolve a ransomware attack.

California Governor Gavin Newsom has also warned of Bitcoin Scams from cyber-criminals who are trying to milk the COVID-19 situation by targeting members of the public. The attack on crypto exchange Cashaa is one of many attacks being suffered by exchanges over the years. Besides Cashaa’s effort to track the criminal, the exchange has reiterated the difficulty the hacker will experience in cashing out the stolen funds.

“All top exchanges and our partners have joined together to give out a strong message to hackers that cashing out hacked Bitcoin is not going to be easy” Cashaa announced in a tweet

Skepticism Surrounding The Retrieval of The Stolen Funds

Although the hacking of Cashaa has been reported to the police, there seems to be no trust in the capabilities of the authorities to help reclaim the funds. Reacting to the news, twitter user @crypto_charger believes “..If the hacker was able to steal it from you they are even more smart how to cash it out. There are so many exchanges and so many offline buyers.” He wrote in a tweet.

The believe that the Indian authorities cannot do much brood skepticism but we await further updates from the company.