$132 000 USD
DESCRIPTION OF EVENTS
"ETBOX is a global professional digital currency trading platform that combines the high performance of a centralized exchange with the high reliability of a decentralized public chain. Committed to discovering high-quality innovative digital asset investment opportunities, it currently provides trading and investment services for more than ten mainstream digital products. The core team of ETBOX is from the professional technology and operation teams of IBM, ApplePay, Goldman Sachs, the former Liquid Digital Currency Exchange, and the Digital Money Alliance of James Simmons. It has rich experience in technology research and development and global operations in the digital currency field."
"With a self-developed core transaction matching system and a fast and smooth user experience, ETbox.com is committed to creating the safest, most stable and efficient digital currency trading platform for users around the world. ETBOX intelligent ant quantification robot (abbreviation: ET robot), former IBM, ApplePay, Goldman Sachs, former Liquid Digital Currency Exchange, James Simmons' digital currency alliance and other professional technical and operational teams to develop the highest efficiency ETBOX intelligent ant quantification robot ( Abbreviation: ET robot), real-time tracking to capture big data and efficient market analysis of major trading platforms, the robot will identify the difference and transaction volume of digital assets in each trading platform, decide whether to execute the arbitrage task, and start the arbitrage transaction at the right time. The robot can also capture the spread of each digital asset in each trading platform in real time, decide whether to conduct trading, contract trading and other arbitrage methods, which can make our entrusted digital assets completely free from price fluctuations, and solve the problem of manual arbitrage. The shortcomings and risks, intelligent arbitrage transactions in real time."
"On the day of the hacker attack on Dragon.com, the exchange was also blocked by Etbox." "The Etbox platform wallet was hacked, causing the platform’s digital assets to be stolen."
"Three days later, Etbox issued a statement saying that the attack caused the platform to lose assets of $132,000."
ETBox appears to have been a centralized exchange platform which existed and had their wallet hacked in 2019.
There is limited record of the hack and the exchange does not appear to exist at present.
HOW COULD THIS HAVE BEEN PREVENTED?
There is limited details, but in general, having assets in cold storage, with the signing authority shared between multiple people, and visibility to ensure customer assets are backed would prevent almost all known cases.
SlowMist Hacked - SlowMist Zone (Jun 26)
How hard is it to lose money on the exchange and how to recover bitcoin digital assets? Blockchain Network (Aug 7)
ETBOX Exchange Live Markets, trade volume ,Guides, and Info | CoinCarp (Aug 7)
etbox Trade Volume, Ranking and etbox Listing Pairs | Bixiaobao (Aug 8)
ETBOX交易所_ETBOX交易平台_ETBOX交易行情-币币情 (Aug 8)
The 23 exchange hacks of 2019 (Aug 8)
Wayback Machine (Aug 8)