On September 1, a Monero wallet was hacked, resulting in the loss of $460,000. The cause is unclear, although there may have been a breach of privacy.
On September 1, hackers gained access to the fundraising wallet for Monero and stole 2,675.73 XMR, which is equivalent to around $460,000 in value.
Crypto writer Colin Wu claimed that the Monero Community Crowdfunding System (CCS) has been hacked, although the root reason is still a mystery. Experts in cyber security believe the problem may lie in the flawed building of Monero.
One of the developers working on Monero observed that the CCS’s money were missing in November. Researchers believe that the hacker utilized a Monero Android wallet with a function that separates assets into different sections, which might have assisted in the theft of the cryptocurrency.
The mechanism that the hacker uses to divide the stolen data. Monero provides evidence that they used a one-of-a-kind wallet function, providing a clue as to how the criminals may have carried out their scheme.
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