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CRYPTO TUMBLER USED BY BINANCE HACKERS TO FUNNEL $80 MILLION

Hackers Stole $ 80 Million Bitcoins From Binance Cryptocurrency Exchange

The company expects to cover losses from the reserve fund

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Attackers stole $ 41 million in Bitcoin (BTC) from Binance, one of the world’s largest cryptocurrency exchanges. This was announced today by the company itself.

According to the CEO of Binance, hackers used various methods, “including phishing, viruses and other attacks.” As a result, they managed to take possession of the data, which allowed to withdraw 7000 BTC. If you believe the published data, one hot wallet was hacked, containing about 2% of all bitcoins on the exchange. The remaining funds were left untouched.

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Careful planning and a well-thought-out sequence of operations allowed attackers to bypass the system that detects suspicious transactions. She worked when it was too late.

Other cryptocurrency exchanges have already blocked deposits from addresses related to hacking, and Binance has blocked all deposits and the possibility of withdrawing funds, planning to check the entire security system, which can take about a week. Note that tenders will be executed as usual.

The company expects to cover losses from the reserve fund.

It remains to add that, according to the US cybersecurity research company CiptherTrace, last year cryptocurrencies worth $ 950 million were stolen from cryptocurrency exchanges and infrastructure services such as wallets. More than half (58%) of this kind of loss occurs in exchange services in Japan and South Korea.

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