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According to CNN, an unidentified group hijacked the server that hosts BlackWallet and stores the virtual currency.
"In a statement sent out by its founder, open source online Stellar wallet BlackWallet has claimed to have been hacked," CNN reported late on Monday.
The attack apparently was a phishing attack aimed at the blackwallet.co's hosting provider.
"Posting on Reddit, user 'orbit84' posted that a hacker gained access to his hosting provider account and changed the DNS settings to his own hosted version of Black Wallet.
The attackers' wallet, which the author posted a link to, appears to have amassed around $400,000 worth of cryptocurrency 'Stellar'," the report added.
The hackers have reportedly moved the money to Bittrex -- a virtual currency exchange, where they are likely to convert it into another digital currency to hide their tracks.
The loss was about 4,736.42 Bitcoins, worth more than $60 million.