Cryptocurrency News

Hackers target Thunder Terminal, drain over 86 ETH and 439 SOL

More than 86 ETH and 439 SOL tokens have been drained from Thunder Terminal, a trading platform. The precise number of malicious actors is unknown, but it has been said with certainty that hackers were behind the attack, affecting 114 out of 14,000 wallets on the platform. Thunder Terminal has committed to rectifying the incident and is cooperating with authorities for security audits and other processes.

Per reports that have surfaced, hackers successfully drained assets from the platform after gaining access to the MongoDB connection URL. It enabled them to view key pieces of information and execute orders for withdrawals.

MongoDB had shared the incident on December 18, 2023, with its partners. It was on December 27, 2023, when Thunder Terminal reported the incident on its platform. Most of the experts have appreciated Thunder Terminal for reacting to the hack attack, but some of them have come out to criticize the team behind it. They have said that there was sufficient time for the trading platform to rotate credentials; however, they chose not to do so.

A complete report will eventually draw the final conclusion. As of right now, Thunder Terminal is working to recover the stolen funds and make amends for those who have suffered.

The commitment is to make a 100% refund to affected wallets and offer them support with 0% fees and $100k in credits each. Thunder Terminal takes action by canceling pre-existing connection URLs, canceling pre-existing session tokens, and linking connection URLs directly to their servers.

Private keys remain safe since the platform does not store those details. Thunder Terminal is responding with its legal team and technical audit. The team is working on implementing 2-factor authentication for withdrawals and adding another layer of security.

Thunder Terminal was seen on a downtime and is expected to be restored at the earliest.

The media houses have reached many community members. Their reaction was filled with concern about not rotating credentials when MongoDB announced that it was hacked on December 17. Some community members have appreciated a response time of less than 9 minutes, stating that others take longer to process the necessary steps.

The prices of ETH and SOL have been moderately affected. SOL is down by 6.45% in the last 24 hours, and ETH is up by 6.76% in the same time window. While ETH is exchanging hands at $2,376.79 at the time of articulating this piece, SOL is struggling to get past $104.61.

Terminal Thunder has not provided a specific schedule for reimbursing affected users for their losses. The team has not also stated when access to the platform will be restored. Relevant teams and authorities are working on the issue; more details are expected to be made public in the days to come, especially about access and refunds.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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