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Crypto exchange M2 was hacked early in the morning, with hackers stealing $13.7 million in digital assets. The breach targeted M2’s hot wallets, which are internet-connected and more vulnerable to attacks.
Blockchain security firm Cyvers Alerts first noticed suspicious transactions and contacted M2. M2 confirmed the breach and assured users that the situation was resolved and funds were restored.
The hacker stole USDT, SHIB, and ETH, converting everything to Ethereum and leaving about $10 million on the blockchain.
This incident highlights the growing problem of crypto exchange hacks. In September alone, hackers stole over $3 billion from the crypto space.