Remitano exchange allegedly hacked

[Charles-Tim]

Hacked amount $2.7. Although, Tether has frozen $1.4 million

I created this on our local board because we Nigerians know many people among us are using this exchange. And this will be a warning again that if it is not your key, it is not your coin. Avoid saving on centralized exchanges. Move your coins to a noncustodial wallet and have the full control yourself.

Crypto exchange Remitano experienced large withdrawals under suspicious circumstances on Sept. 14, with some blockchain analysts concluding that it may have been hacked. A total of $2.7 million worth of crypto has been withdrawn through the suspicious transactions. Tether has frozen one address the attacker allegedly used, potentially saving $1.4 million worth of customers’ crypto.

Is deposit and withdrawal still available on Remitano or it has been disabled?

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[Adbitco]

This one na problems wey dey with us be this we think say saving money for exchange go better pass to save for wallet onto say anytime we need am we fit just sell am immediately without having to go through rigorous ways, like to send from wallet to exchange and waiting to be fully confirmed before selling will waste time. This method na one thing wey we supposed dey avoid pass self but how we go do na, our people like easier thing than keep money on a noncostodial  wallet. Me self never try using this exchange since them dey existence I never near there instead then na whatsapp group p2p then luno come I begin dey use am before we moved to binance.

Anyhow thanks for helpful update.

[Ever-young]

I have known remitano to be in operation for some years now and I might have used it few times before I abandoned them for other better choice, but I never knew they are still very much active and still supplying service to customers within Nigeria, talk more of them having this high volume of crypto under their watch, how do people even happen to trust a crypto exchange like remitano to hold their funds?

After the recent incident with Patricia I taught Nigeria would have learn to run out from storing their crypto on exchanges and try to hold it on their own personal wallet until when they want to exchange it then they can make use of any exchange that they care to use. If people are just making use of this exchanges just for the purpose of exchanges their crypto to fait, this exchange will have little holding volumes which will reduce hackers intention to hack them since their is literally nothing to few funds which could be hijacked from their.

Let’s see what will happen after this, in one part this is one thing that most post people like about centralization, as tether have been able to take a quick action by frozen funds of the hackers on their wallets which will limit them of spending it, but everything always have its advantages as they can use such access in their own advantage over an innocent holders fund.

[Coyster]

Is deposit and withdrawal still available on Remitano or it has been disabled?

I don't use Remitano, so i do not know, but if na true say they have been hacked, dem go soon suspend deposit and withdrawal, because too many of their customers go dey rush dey try withdraw their money right now, and if the exchange continue to dey process withdrawals, coupled with the money wey dem don already lose to hackers, dem go become insolvent asap, this one na another reason why dem go halt deposit and withdrawal.

Two days ago it was CoinEx, now na Remitano, make people no dey carry this talk of not your keys not your coins dey play oh, because e go shock you like film when your fund go dey inside exchange wey just collapse, to avoid this kind matter use only non-custodial wallets take dey keep your funds.

[uchegod-21]

Anybody don confirm this information? I know say some of our Nigerian brothers dey use that exchange and me too dey use am. I go want make person wey dey use the exchange confirm this informate. Me, I dey away from home and na with my mobile device I use dey post. I no fit make research or confirm until I don come back.

,Tether has frozen $1.4 million

The frozen $1.4M na for the remitano exchange abi na Tether as a whole?

[Cryptomultiplier]

Is deposit and withdrawal still available on Remitano or it has been disabled?

I don't use Remitano, so i do not know, but if na true say they have been hacked, dem go soon suspend deposit and withdrawal, because too many of their customers go dey rush dey try withdraw their money right now, and if the exchange continue to dey process withdrawals, coupled with the money wey dem don already lose to hackers, dem go become insolvent asap, this one na another reason why dem go halt deposit and withdrawal.

Two days ago it was CoinEx, now na Remitano, make people no dey carry this talk of not your keys not your coins dey play oh, because e go shock you like film when your fund go dey inside exchange wey just collapse, to avoid this kind matter use only non-custodial wallets take dey keep your funds.

Funny enough I been just withdraw my coins from the remitano some days back, only for me to see this post now.
The latest information I got on them was when they sent out notifications for customers to update or request for  for new BTC address before making a transaction henceforth.
I would have to investigate further to know if this hack information is worse than could be managed or recovered from.

In the meantime, can someone please advice on the next best exchange or custodial wallet to use, with easy features and better security protocol?

[Zanab247]

Thanks for sharing this good news to Naija local board bro, because am planning to download Remitano based on what I heard that they don't use to charge like the way binance charge their customers but for this information you dropped here will make me to change my mind not to download Remitano until I get a good news from their team. I no Remitano management will not allow this issues to spoil their image than to find solution in a way it will help them to maintain their customers by helping the victim to recover his money back if possible.

[Sim_card]

I no go doubt this info, because na from strong hand. I never use that exchange before but I believe say some other persons dey use am. I hope say nobody funds still dey remittano, if not, you don enter one chance bus. This should be another lesson for us to take privacy serious by using bitcoin the way it was designed in a decentralized way by storing our been bitcoin in a noncustodial wallet. I dey like take to advice when e come to risk management of my funds and na this thing make me no ever believe in keeping money for Cex. You no go understand and you turn victim, I dey talk to those people wey believe say exchange dey make transaction easy for them, for that they believe say exchange na the best. Not you keys, Not your coins na the koko.

[sokani]

Dis Remitano issue don linger for a while, if my memory serve me well e don reach like 1 month and no matter wetin fit be di problem dem suppose don fix am. When Patricia issue start, naso dem deny still dem finally agree say dem don hack dem, so with di way dis Remitano issue dey go, it's likely they've been hacked or na exit scam.

remitano exchange abi na Tether as a whole?

I neva read di news to get detailed information but e be like one of di asset wey di hacker steal na USDT, maybe Remitano report am on time and di hacker never convert to oda asset, so Tether quickly step in and freeze di stolen USDT.

[Charles-Tim]

This one na problems wey dey with us be this we think say saving money for exchange go better pass to save for wallet onto say anytime we need am we fit just sell am immediately without having to go through rigorous ways, like to send from wallet to exchange and waiting to be fully confirmed before selling will waste time.

It is because some people are ignorant of what wallets are and some people are thinking exchanges are wallets. Some people can also be lazy. To transfer coins from wallet to exchange is very easy and not a complicated process at all, unless someone is thinking like that and such person is just deceiving himself.

This method na one thing wey we supposed dey avoid pass self but how we go do na, our people like easier thing than keep money on a noncostodial  wallet. Me self never try using this exchange since them dey existence I never near there instead then na whatsapp group p2p then luno come I begin dey use am before we moved to binance.

I have used Remitano before and my experience there was awful.

The frozen $1.4M na for the remitano exchange abi na Tether as a whole?

The USDT that was stolen was freezed. USDT can be frozen by Tether even on noncustodial wallets. Most stable coins are like that, they are centralized, with the exception of DAI.

[Adbitco]

This one na problems wey dey with us be this we think say saving money for exchange go better pass to save for wallet onto say anytime we need am we fit just sell am immediately without having to go through rigorous ways, like to send from wallet to exchange and waiting to be fully confirmed before selling will waste time.

It is because some people are ignorant of what wallets are and some people are thinking exchanges are wallets. Some people can also be lazy. To transfer coins from wallet to exchange is very easy and not a complicated process at all, unless someone is thinking like that and such person is just deceiving himself.

This method na one thing wey we supposed dey avoid pass self but how we go do na, our people like easier thing than keep money on a noncostodial  wallet. Me self never try using this exchange since them dey existence I never near there instead then na whatsapp group p2p then luno come I begin dey use am before we moved to binance.

I have used Remitano before and my experience there was awful.

You won't blame them sha because you exposure and theirs can't be compared or quantified as I believe you are more knowledgeable than them, so I can categorically say that is there level of knowledge and understanding.

[uchegod-21]

remitano exchange abi na Tether as a whole?

I neva read di news to get detailed information but e be like one of di asset wey di hacker steal na USDT, maybe Remitano report am on time and di hacker never convert to oda asset, so Tether quickly step in and freeze di stolen USDT.

Yea, I later read read the news. The OP no report the matter in full. So the thing come confuse me but as I read online I now get the whole information. But still still remitano never release official information on this mata.

The frozen $1.4M na for the remitano exchange abi na Tether as a whole?

The USDT that was stolen was freezed. USDT can be frozen by Tether even on noncustodial wallets. Most stable coins are like that, they are centralized, with the exception of DAI.

Na so e happen. Once make we see the advantage of centralization.

[Ruttoshi]

Remittano was smart enough to trace the wallet that the funds was transfer into immediately for Tether to freeeze, if not this would have been a big loss to the exchange and customers will be the ones at loss because most funds in exchanges belongs to customers.

Self custody is the best way to be free from all these exchanges incapability to secure customers funds, because they are hackers target or an insider can still sell out information to hackers. Newbies like me, should take note of all these scenarios and use a noncustodial wallet for the safety our funds. Nothing sweet pass say anytime wey you want your funds, you fit get access to am.

[Mate2237]

E don tay wen we dey campaign against keeping money on the Remitano exchange platform. Me sef don create threads both in local board and general board. So any Nigerian who still dey keep money for there na im own business. We no go force am. Even yesterday Remitano team sent me message sae dem dey under maintenance again and all these ones na di end sign so I belived sae by now everybody don commot body from dat exchange. me I no dey am again since.

$2,7m is a very big amount that has been hacked and this is one of the disadvantage of this centralized exchange platforms. Me I have not really getting di good and simple decentralized exchange to use, it not any centralized exchange platform I for don abandoned dem since. Dem tried for di frozen of the coins dem dey tried to hackagain. And for the email I received, dem tok sae, dem don frozen some of the coins but bitcoin and Ethereum can be deposited and can be withdraw without any issue.

[sokani]

E don tay wen we dey campaign against keeping money on the Remitano exchange platform. Me sef don create threads both in local board and general board. So any Nigerian who still dey keep money for there na im own business. We no go force am. Even yesterday Remitano team sent me message sae dem dey under maintenance again and all these ones na di end sign so I belived sae by now everybody don commot body from dat exchange. me I no dey am again since.

Baba you try for bringing di information to the naija board and I know say e don safe some persons here as dem go don rush go comot their funds from Remitano. E be like di new trend now na our own indigenous exchange wey dey jonse, Patricia and now Remitano don follow suit. Ah just dey feel for dose day to day traders wey get funds for di exchange because na dem go get many asset for di exchange. Dis one na anoda reason wey be say dem go dey like to dey consider reputable exchange like Binance and Kucoin to dey run their business.

[Igebotz]

remitano exchange abi na Tether as a whole?

I neva read di news to get detailed information but e be like one of di asset wey di hacker steal na USDT, maybe Remitano report am on time and di hacker never convert to oda asset, so Tether quickly step in and freeze di stolen USDT.

Yea, I later read read the news. The OP no report the matter in full. So the thing come confuse me but as I read online I now get the whole information. But still still remitano never release official information on this mata.

They will never do it since what they lost is a drop in the ocean, it isn't worth 0.1% of their assets, they have enough to cover their asses and protect customers, and they only lost less than $1.3 million after Tether frozen $1.5 million. It could have been worse if cyversAlert hadn't notified Remitano about the exchange's anamolous transactions.

The famous Korean hackers could be responsible.

[Smartvirus]

Is deposit and withdrawal still available on Remitano or it has been disabled?

I try check am out on there online wallet if the fields still dey open for withdrawals across various coin offerings and online the time way them been dey do maintenance way be say, them dim options way no dey available to use, the fields dey very live and active. So e dey safe to say, you fit still dey run your deposit and withdrawal but, you gats dey on guard. I been get the impression way, with all these there plenty upgrades and maintenance, things fit sup and e don dey sup like this.
How them wan con tell me say, them start maintenance and days later, go on and other upgrade then the next thing, coins are getting wiped. I no go say I pity people way dey keep coin on exchange shah but, I go hope say, them learn lesson from the plenty way dey happen of recent. FTX and now Remitano. Make we try dey do more of bitcoin and hodling on a non custodial wallet.

[Amphenomenon]

 This is the reason we need to avoid saving our coins on custodian wallet or exchange, we are never in total control of it and they are always prone to hack but sometimes we don't have a choice than to use it but we still need to find a trusted one and be cautious of what we save in there. Binance to me is the best since its has been hack but was still able to get back not like FTX and some others.

Is deposit and withdrawal still available on Remitano or it has been disabled?

depositing is still available while the  withdrawal was blocked for some time but seems like it's all good now, base on the replies they have been having on twitter Twitter

[Fivestar4everMVP]

Is deposit and withdrawal still available on Remitano or it has been disabled?

They have actually opened deposits and withdrawals several hours ago or like a day ago, but from my current experience, is like they are not yet processing withdrawal request yet.

I placed a withdrawal request of their own coin (RENEC coin) like 15 or more hours ago , and up until now, the withdrawal request is still scheduled and not processed, it's really unlike Remitano., I don't know if anyone have any similar experience or it's just me.



Will personally advice not to deposit to this exchange yet if this is a general issue .

[uchegod-21]

Will personally advice not to deposit to this exchange yet if this is a general issue .

Please, what is the status now? Was your withdrawal later approved. I don't have access to my device where I have the remitano app and I don't know how to the funds I have in it. Not very much though, but my spend spendable fund is that. I will need your reply. If it was later approved, atleast I will be eased otherwise I will be rest less.
Maybe I'll consider to send you a PM incase you don't visit here again.