Hackers broke into one of the largest cryptocurrency exchanges and stole bitcoins for $ 41 million

Hackers stole bitcoins for $ 41 million: One of the largest cryptocurrency exchanges Binance announces a  hacker attack,  which resulted in the exchange lost a tidy sum.

How it was done?

According to Binance CEO Changpen Zhao, hackers used various methods to hack, including phishing, viruses, and other attacks. They managed to trick the built-in protection system, which analyzes transactions and instantly blocks suspicious transactions. At this time it worked, but later, when the funds have been withdrawn.

Hackers managed to crack only one hot wallet, containing only 2% of all bitcoins on the exchange. But, and this was enough: the thieves brought Bitcoin 7000, and about $ 41  million.

What now?

Binance states that users will not suffer: the losses will be reimbursed from the reserve fund. True, until all deposits are frozen, you can’t withdraw funds either  an internal security check is being conducted. It will last about a week. 

In the meantime, other exchanges,  just in case, blocked deposits from addresses related to hacking.

After the hacker attack, the bitcoin rate fell by  4.2% but quickly recovered. Now one bitcoin costs a little less than $ 6000.

Source: Reuters

For those who want to know more:

We will be happy to hear your thoughts

Leave a reply

Register New Account
Reset Password
Compare items
  • Total (0)