Hackers Steal $40M Worth of Bitcoin from Binance
Main page News, Fintech, Exchange, Binance, Cryptocurrency Exchanges, Hacker Attack

One of the world's largest cryptocurrency exchange by adjusted volume, Binance, has lost 7000 bitcoins (BTC) as a result of a hacker attack.

According to the official statement by Binance's CEO, Changpeng Zhao, a group of unknown hackers was able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers used a variety of techniques, including phishing, viruses and other attacks, notes the statement.

However, CZ claims the hacker attack impacted only the exchange's hot wallet and user funds are "secure and unharmed."

Binance's Founder also notes the hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts "at the most opportune time."

In the meantime, Binance will use the #SAFU fund to cover the incident in full. No user funds will be affected, highlights the statement.

Earlier, Cryptopia, New Zealand's largest crypto exchange went offline on January 15th sharing it had suffered a "security breach which resulted in significant losses."

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