HACKERS HACKED BINANCE. CRYPTOCURRENCY WITHDRAWAL IS TEMPORARILY STOPPED

A large exchange lost more than $ 41 million in Bitcoin. Unplanned technical work began on the platform.

On May 7, 7000 BTC ($ 41.1 million at the current exchange rate) were stolen from the Binance cryptocurrency exchange. On the “large-scale security breach,” said the head of the platform Changpeng Zhao, later confirmation appeared on the official website of the company.

The attackers managed to gain access to user API keys, two-factor authentication codes, and “other potentially important information.” Exchange developers do not exclude that hackers can still control some user accounts.

The funds were withdrawn from one hot wallet of the exchange, it contained about 2% of all available Bitcoins from the company. Other wallets have not suffered yet.

“The hackers specifically waited for the moment and carried out coordinated actions through several seemingly unrelated accounts at the most convenient time. The transaction was structured to circumvent existing security measures. Unfortunately, we could not block the withdrawal of funds until it is confirmed. This operation triggered the various signaling mechanisms in our system, after which we immediately stopped the withdrawal of funds, ”say the employees of the exchange.

According to the developers, it will take them about a week to carry out all the necessary security restoration operations. During technical works users will not be able to deposit and withdraw funds. Trade will continue in the normal mode. All losses will be reimbursed, the exchange has previously established a #SAFU fund, which sends 10% of the commissions collected “to protect users in extreme cases”.

The post HACKERS HACKED BINANCE. CRYPTOCURRENCY WITHDRAWAL IS TEMPORARILY STOPPED appeared first on Bitcoin News.

from Bitcoin News https://www.cryptocynews.com/hackers-hacked-binance-cryptocurrency-withdrawal-is-temporarily-stopped/
via Bitcoin News
via Bitcoin News Today