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Crypto Exchange COSS Reclaims 11 Mln of Its Stolen Coins from Hackers

  • Yuri Molchan
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    A crypto exchange pulls strings to recover its coins from a hacker


Crypto Exchange COSS Reclaims 11 Mln of Its Stolen Coins from Hackers
Contents

Recently, a Redditor nicknamed blockchainified (BLCH) has experienced a hacker attack. Almost $900,000 in crypto went missing from his wallet. 10 percent of the entire COSS (a crypto exchange) tokens supply was among them.

Details from the victim

In a Reddit thread, BLCH claimed that he was hacked while he was asleep. When he woke up and reached for his laptop, he found out that somebody had hacked his online wallet and got away with 14 Bitcoins (over $89,000), 22 Ethers (about $4,500) and the aforementioned 11 mln COSS tokens (slightly less than $800,000).

The Redditor is not sure but chances are high that 19,000 EOS coins (more than $100,000) were also misplaced by the hackers. BLCH said that the COSS exchange, from where the coins were stolen, was to blame since they were conducting maintenance when the attack allegedly took place.

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The digital thief apparently tried to overcome the 2FA about 25,000 times and finally succeeded. Meanwhile, the exchange did not lock the account after several first attempts failed.

“Binance stole my money!”

A lot of users on the Telegram channel of the exchange asked BLCH about the details of what had happened. It also turned out that previously the same Redditor claimed that Binance had stolen his money. About a similar case, U.Today reported a while ago.

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COSS exchange strikes back

COSS promptly responded to the situation. Through the Medium.com platform, the team suggested that the hackers send back the stolen COSS coins. On condition of doing that the exchange promised not to undertake any measures to pursue this situation any further.

The hacker did not comply, so COSS managed to recover its tokens by using a function in the smart contract. This was confirmed by the COSS founder Rune Evensen.

Cover image via u.today
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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