Bancor: Hacker steals $13.5 million in cryptocurrency

Bancor: Hacker steals $13.5 million in cryptocurrency

The Ethereum course might have gone down a bit over the last couple of months, but nonetheless, the crypto currency is still mighty valuable – especially 24,984 Ether. That’s the sum that a crafty cybercriminal managed to steal.

In a statement on Twitter the Israeli cryptocurrency exchange Bancor tweeted that thanks to a security breach around 13 million worth of cryptocurrency were stolen from the platform.

According to the tweet the hack took place at approximately 00.00 UTC on July 9th. The still unknown intruder managed to gain access to one of the company’s wallets, steal the 24,984 Ether and 229,356,645 Pundi X, and then transfer them into his own wallet.

The same criminal also tried to get his hands on 3.200.000 Bancor tokens.  Since this is a currency developed by Bancor itself, they were able to freeze the stolen BNT and therefor limit the damage to their ecosystem. That was not possible for the ETH and other stolen tokens. The tweet states though that they “are now working together with dozens of cryptocurrency exchanges to trace the stolen funds and make it more difficult for the thief to liquidate them”.

Bancor also made sure to clarify that no user wallets were compromised:

https://twitter.com/Bancor/status/1016995985610985472

As part of the investigation and probably to stop any further damage Bancor deactivated their webpage for the time being but it should be back online again, soon.

This post is also available in: German

PR & Social Media Manager @ Avira |Gamer. Geek. Tech addict.