Forex and Crypto News

Hackers stole $40.7 million in Bitcoins from Binance

17:44 08 May /2019

Binance Cryptocurrency Exchange announced that hackers stole $40.7 million in Bitcoins

The exchange notes that the hackers stole more than 7,000 Bitcoins. The attackers were able to gain access to user keys and authentication codes. The fact of attack was acknowledged by Binance CEO, Changpeng Zhao.

He confirmed that the hackers were able to withdraw funds from the trading platform, and a few hours later he himself posted a post on Twitter, in which he announced that the platform staff were carrying out technical work with the servers.

Later, Binance CEO said that the exchange will provide more detailed information in the near future. The exchange, most likely, did not identify all victims of the attack.

The company’s statement says that one of the “hot” wallets suffered, which contains 2% of the total amount of funds in BTC placed on the platform. All other wallets are completely safe, Changpen Zhao stressed.

He declared:

Hackers had time to wait, which they took advantage of. They all planned well and were able to log in through several independent accounts. The transaction was structured in such a way that it passed all existing security checks. Unfortunately we could not block the withdrawal before it was completed.

After the abduction of coins, the administration immediately froze all withdrawal operations. Later the trade was resumed, but Binance believes that hackers can still control some user accounts.

In the near future, the administration promises to improve the security system. To cover losses, the marketplace intends to use the funds of its fund, which was originally created to protect users.

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