In a statement, Bancor, a decentralized exchange, stated that a vulnerability was exploited to steal 24,984 ETH (approx $12 million), $1 million worth of NPXS and $10 million worth of BNT.
In a tweet earlier today, Bancor stated that it has identified a security breach and will investigate into the issue. It assured that no user wallets were compromised and they would release a more detailed report shortly.
The hack occurred at approximately 00:00 UTC when a wallet used to upgrade some smart contracts was compromised. The wallet has withdrawn ethereum and ERC-20 tokens NPXS and BNT.
The stolen BNT has since been frozen using a mechanism built into the Bancor Protocol. Bancor stated that this was built in to “be used in an extreme situation to recover from a security breach, allowing Bancor to effectively stop the thief from running away with the stolen tokens”
However, the stolen ETH and other tokens are still compromised. The wallet which contains the stolen ether can be viewed here. Bancor stated 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”.
They stated that they would continue to post updates on any further developments on their Telegram channel and on Twitter. The exchange is currently down. In a statement to Cointelegraph, Konstantin Gladych, CEO of Changelly, stated that parts of the stolen funds have been exchanged via Changelly. Bancor token (BNT) has taken a 14% dip from about $3.15 at the beginning of the day to $2.72 as of writing.
The dollar experienced a sell-off but rallied back up by the end of the week.…
The new week will be packed with economic data and decisions from key central banks.…
Despite economic factors working against the dollar, its oversold condition helped it this week or…
USDCAD: ⬇️ Sell - USDCAD reversed from key resistance level 1.4500 - Likely to fall…
Solana: ⬆️ Buy - Solana reversed from the long-term support level 113.75 - Likely to…
Adobe: ⬇️ Sell - Adobe broke round support level 400.00 - Likely to fall to…
This website uses cookies