Express

Analytics Company Says The Appalling Transaction Fees May Be Hacker Attacks

Dawn Wu

Summary: The absurd three transaction fees of 23,644 ETH, valued at over $5.6 million, might have been hackers’ attack against an exchange for ransom, per PeckShield.

The absurd three transaction fees of 23,644 ETH, valued at over $5.6 million, might have been hackers’ attack against an exchange for ransom, per PeckShield.

Chinese crypto media platform ChainNews published an article of blockchain analytics company PeckShield which expounded that hackers might be extorting a crypto exchange for ransom to stop its outrageous commissions.

As Decrypt explained in a report, when hackers found a way to access an exchange’s funds, they may not be able to transfer tokens directly to their accounts due to system protection. However, they could send money with staggering transaction fees to waste the storage of the exchange and blackmail the platform for a payoff to stop its attack.

By Dawn Wu

Last Update:

Tags: ,,
Link: Analytics Company Says The Appalling Transaction Fees May Be Hacker Attacks   [Copy]
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 3 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 9 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 12 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 13 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 16 days ago
  • You need to login to comment.