ZB.com, a digital asset exchange that claims to be the world’s most secure, has suddenly issued a notice saying that due to a technical failure it has stopped charging and withdrawal services, without mentioning any resumption time.
Although ZB.com did not disclose any further details, Twitter users’ speculation indicated that the platform is not being maintained due to a breakdown, but because it has been hacked.
On August 3, blockchain security company PeckShield released on-chain data showing that more than 20 cryptocurrencies, including SHIB, USDT, and MATIC, with a total value of about $4.8 million, were transferred off the exchange on Tuesday. PeckShield added that some ETH has been moved to other exchanges for sale.
At the time of writing, the exchange has not confirmed publicly whether or not it has been hacked.
ZB.com, formally known as CHBTC.com, was founded in early 2013 by Li Dawei. Due to Chinese regulatory compliance, CHBTC ceased all trading activity on September 30, 2017. The firm then dismissed its Chinese operations team and let the overseas team take over. Since then, CHBTC has been named ZB.com and has focused on international operations.
ZB.com has offices in Dubai, Malaysia, Singapore, Australia, and the United States. The ZB platform uses multiple technical security protections to build a professional financial-level digital asset trading network. It now has over 10 million users.
Since May 2022, a number of small and medium-sized currency exchanges, including AEX and Hoo, have experienced a capital crisis.