Why UAE-Based M2 Crypto Exchange Lost $13.7M in Hack

UAE-based crypto exchange M2 crypto exchange recently encountered a cybersecurity breach, resulting in the loss of $13.7 million in digital assets. The incident occurred on October 31, at around 3:16 AM local time, as the exchange reported a targeted attack on its hot wallets across multiple blockchain networks, including Bitcoin, Ethereum, and Solana. Despite a quick response from the crypto exchange security team, a significant portion of assets was moved before the breach was contained.