Etbox Wallet Hacked

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ETBox

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.

This exchange or platform is based in Seychelles, or the incident targeted people primarily in Seychelles.

About ETBox

"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."

This exchange or platform is based in Seychelles, or the incident targeted people primarily in Seychelles.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

Known history of when and how the service was started.
What problems does the company or service claim to solve?
What marketing materials were used by the firm or business?
Audits performed, and excerpts that may have been included.
Business registration documents shown (fake or legitimate).
How were people recruited to participate?
Public warnings and announcements prior to the event.

Don't Include:

Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

When the service was actually started (if different than the "official story").
Who actually ran a service and their own personal history.
How the service was structured behind the scenes. (For example, there was no "trading bot".)
Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - Etbox Wallet Hacked
Date	Event	Description
March 24th, 2019 12:00:00 AM	First Event	This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.

Total Amount Lost

The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

It is unknown how much was recovered.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Prevention Policies

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.