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Hackers Steal 'Stellar' Cryptocurrency Worth $400,000

Hackers Steal 'Stellar' Cryptocurrency Worth $400,000

By Indo-Asian News Service | Updated: 16 January 2018 16:09 IST

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Hackers Steal 'Stellar' Cryptocurrency Worth $400,000

Highlights

Hackers broke into the server that hosts BlackWallet digital wallet
In a phishing attack, the hackers stole Stellar from BlackWallet users
The owner of BlackWallet informed users about the attack via forums

Hackers broke into the digital wallet provider BlackWallet and stole its 'Stellar' cryptocurrency worth $400,000 (roughly Rs. 2.5 crores), the media reported. According to CNN, an unidentified group hijacked the server that hosts BlackWallet and stores the virtual currency.

"In a statement sent out by its founder, open source online Stellar wallet BlackWallet has claimed to have been hacked," CNN reported late on Monday.

The attack apparently was a phishing attack aimed at the BlackWallet's hosting provider.

"Posting on Reddit, user 'orbit84' posted that a hacker gained access to his hosting provider account and changed the DNS settings to his own hosted version of BlackWallet. The attackers' wallet, which the author posted a link to, appears to have amassed around $400,000 worth of cryptocurrency Stellar," the report added.

BlackWallet tried to warn users about the attack via forums. However, many users continued to log in and lose money, according to tech news site Bleeping Computer.

The hackers have reportedly moved the money to Bittrex - a virtual currency exchange, where they are likely to convert it into another digital currency to hide their tracks.

Earlier this month, Marko Kobal - the co-founder of Slovenian Cryptocurrency mining market NiceHash that suffered a hack in December - stepped down as the company's CEO. The loss was about 4,736.42 Bitcoins, worth more than $60 million (roughly Rs. 384 crores). Cryptocurrencies have been gaining interesting over the past few years, and became a topic of discussion for people across the world when Bitcoin's valued soared to nearly $20,000 (roughly Rs. 12.8 lakhs) late last year.

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Further reading: Cryptocurrency, Internet, BlackWallet, Stellar