Binance Loses $110 Million In Latest High-Profile Crypto Hack

Posted on

Cryptocurrency exchange Binance was put into emergency mode this Thursday following a hack. The exchange was immediately on top of the event and issued a blog post today detailing the steps taken to mitigate it. All in all, the hackers got away with $110 million in the exchange’s native cryptocurrency, $BNB. However, initial reports supported by blockchain analysis reported a much greater $570 million figure (you may still see some websites carrying that number). But a rapid response from Binance halted all transactions throughout the supposedly decentralized exchange. Currently, $7 million of the stolen funds are frozen and pending recovery.

See more

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *