Hackers steal more than $40 million worth of BTC from Binance

  • by Ofeed Team
  • May 8, 2019, 16:37 AM
 8       6      

Hackers have stolen over $40 million worth of Bitcoin from Binance exchange, one of the world’s largest cryptocurrency exchanges.

Binance said the hackers succeeded in putting their hand on nearly 7,000 Bitcoins after using a variety of attack methods to carry out the “large scale security breach” that occurred on Tuesday.

Hackers also got some user information such as two-factor authentication codes, which are required to log in to any Binance account.

Chao Changping, Chief Executive of Binance crypto exchange, said the stolen Bitcoins only represents 2 percent of the total holdings of Binance and reassured investors that other wallets were not affected.

Deposits and withdrawals will remain suspended but trading will be allowed, Binance said.

Binance it would conduct a comprehensive security review for a week, and noted that hackers may control certain user accounts and may use them to influence prices at the moment.

At 11:14 GMT, the Bitcoin lost 0.45 percent to trade at $5,923.5, reversing gains generated the previous day.

The leading digital currency has gained strength over the last few days to test the $6,000 level, but momentum has faded after the breaking news.

As for other major cryptocurrencies, Ethereum slipped 4.07 percent to $170.56 and the Ripple fell 0.41 percent to $0.30222.

Ofeed Team

Ofeed’s team is comprised of highly distinguished analysts, with a wide experience in financial markets, having a unique analytical view of developments impacting global financial markets

Related Articles