As per the company, the security researchers alerted them about a vulnerability in its Agama wallet. After realizing the hack could happen at any moment, Komodo’s cybersecurity devised a plan to employ the same exploit to move compromised crypto to safety. Explaining to users what happened, Komodo said:
With this action, Komodo saved funds worth $13 million, at the current market rates from risk. As per the firm, the crypto is now being held in two safe wallets and owners are now being invited to reclaim their assets in case their accounts have been swept. As for those who still have cryptocurrency in their Agama wallet are being urged to move all their funds to a new address as soon as possible.
Weeks earlier, Cryptocurrency Exchange Binance was hacked using phishing and viruses, compromising 7,000 bitcoin (BTC). It is purportedly, it was a premeditated attack that went undetected by the exchange’s security systems. In Mid-January, Cryptopia a New Zealand Based Cryptocurrency Exchange faced a hack
Image source – Komodo Twitter
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