Bancor Breached, No Wallets Imperiled
The cryptocurrency exchange is temporarily offline as an investigation ensues.
Update:
On Monday July 9, 2018, around 1:38 PM, additional details were released by Bancor. According a statement, a criminal was able to withdraw 24,984 ETH (valued at nearly $12.5 million USD), 229,356,645 NXPS (valued at nearly $1 million USD), and 3,200,000 BNT (valued at nearly $10 million USD) from the BNT smart contract.
Bancor froze the stolen BNT after dsicovering the theft since it is the exchange’s native token, however other tokens could not be frozen; instead Bancor seeks to work with “dozens of cryptocurrency exchanges to trace the stolen funds and make it more difficult for the thief to liquidate them.”
The following is the statement in full from Bancor:
Initial Coverage:
The Bancor Web App went down for maintenance around 1 AM early Monday morning, July 9, 2018. Two hours later the decentralized exchange cryptocurrency tweeted that it had “experienced a security breach.”
It seems as if security breaches and leaks are becoming commonplace in the business theatre. Thus far the scope of the security breach is unknown, although Bancor did express that user wallets were not compromised.
For now Bancor remains down for maintenance while the cryptocurrency ecosystem waits for a report from the exchange that will reveal the extent of the security breach.
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