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🇦🇺💰 Despite regulatory pressures and a crypto bear market, CoinSpot founder Russell Wilson, of Australia's largest crypto exchange, received $500M compensation in 2021 and 2022, reports BeInCrypto. The total compensation, including relatives and co-founders, amounts to approximately $590M 💼🚀

#CoinSpot #CryptoNews #Australia 🌏💲

Was CoinSpot's $2.4 Million Hack the Result of a Private Key Compromise? 🔐

Australian crypto exchange #CoinSpot recently experienced a $2.4 million hack, likely due to a "private key compromise" in one of its hot wallets.

Blockchain security firm #CertiK confirmed the exploit, revealing that 1,262 ETH, equivalent to $2.4 million, was transferred from a known CoinSpot wallet to the alleged hacker's address.

The #hacker then converted part of the funds to Wrapped Bitcoin (WBTC) using Uniswap and exchanged the rest for Bitcoin via ThorChain.

The stolen Bitcoin was further distributed among multiple wallets, a common tactic to complicate investigations. CoinSpot, established in 2013, is Australia's largest crypto exchange with around 2.5 million users.

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