Decentralized crypto exchange became the victim of hackers

in cryptocurrency •  6 months ago

In a statement, a decentralized Crypto exchange Bancor revealed that they lost 24,984 ETH (about $ 12 million), $ 1 million worth of NPXS, and $ 10 million worth of BNT.

In a tweet Bancor noted that violation of security was identified and investigated. He was convinced that none of the user's wallets would go on compromise and will issue a more detailed report in the near future.

The hack happened at about 00:00 UTC, when wallets decided to make some updates in smart contracts. It was at this time that Ethereum and ERC-20 coins, NPXS and BNT were stolen.

Since then, stolen BNTs have been frozen by means of a mechanism that is built into the protocol of Bancor. Bancor said that this mechanism "is used in extreme situations to restore a security error that allows it to save coins from being stolen."

Bancor said that they are now working together with "a lot of crypto exchanges to track the stolen funds until the thieves can escape".

The Exchange is currently closed. In Cointelegraph's statement, Konstantin Gladich, the executive director of Changley, said that part of the stolen amount was sold through Changley.

The bank was able to get $ 153 million in July 2017 which is still one of the biggest ICOs.

The Bancor Coin (BNT) has fallen from $ 3.15 to $ 2.31 since yesterday.

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Nothing is safe this days...


Yes I agree, crazy world...