Breaking: Binance exchange gets compromised; 7000 BTC worth $40 million withdrawn by hackers

Binance’s official blog spoke about a security breach in Binance that allowed hackers to get away with 7000 BTCs, a large number of user API keys, codes, and potentially other info. The blog further added that the targetted attack was on a hot wallet and that only 2% of the total funds in that wallet was compromised.

The blog stated:

“The hackers used a variety of techniques, including phishing, viruses and other attacks. We are still concluding possible methods used. There may also be additional affected accounts that have not been identified yet.”

Two wallet addresses were flagged and linked to the hackers that were responsible for the breach. The hash linked to the same is: e8b406091959700dbffcff30a60b190133721e5c39e89bb5fe23c5a554ab05ea.

According to Blockchain.com, the total amount of sent from the above-mentioned addresses are 7074 BTC. The blog further added:

“The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time. The is structured in a way that passed our existing security checks. It was unfortunate that we were not able to block this withdrawal before it was executed.”

At press time, Binance stopped deposits and withdrawals and also mentioned that they must undergo a “thorough security review”, which “will take about one week”.

CZ tweeted:

Moreover, trading will continue undisturbed according to the blog, but the users were warned that the hackers might still “control certain user accounts and may use those to influence in the meantime”.

The post Breaking: Binance exchange gets compromised; 7000 BTC worth $40 million withdrawn by hackers appeared first on AMBCrypto.

Post written by our friend Akash Girimath and Syndicated from ambcrypto
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Syndicated from ambcrypto

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