Bancor exchange hacked, stolen cryptocurrency for $23 million

Decentralized exchange Bancor stated that the vulnerability in the system platform was used to steal 24 984 ETH (about $12 million), as well as NPXS tokens worth $1 million and BNT (internal tokens Bancor) at a cost of $10 million, so the total damage on current rates totaled approximately $23 million.

In his entry on Twitter 10 Jul exchange Bancor said the burglary and that the site begins to investigate the incident. The platform is assured that the wallets of users were not compromised and soon to be released full report.

The burglary occurred today around 00:00 UTC, when it was compromised wallet that is used to update some of the smart contracts. After that, the hackers withdrew from the stock exchange, esters, and the tokens of the standard ERC-20 — NPXS and BNT.

Stolen tokens BNT were frozen using the mechanism built into the Protocol Bancor. The exchange stated that this mechanism was introduced for such problems to «use it in an emergency situation and to recover from the hacking, allowing the Bancor to prevent the fraudsters to disappear with tokens»

However, stolen by the ETH and other tokens to return not so easy. Data of the wallet containing the stolen ethers, can be viewed here. Bancor says that the site «works together with dozens of cryptocurrency exchanges, to trace the stolen funds and make it harder for hackers and their money».

Representatives of the exchange said they will continue to post updates on any further developments in its channel in the Telegram and Twitter. Currently, the exchange is not working. Gladys Konstantin (Konstantin Gladych), CEO Changelly, said that part of the stolen money was exchanged via Changelly.

In July 2017 Bancor collected
$153 million in a few hours, making your ICO is one of the largest in history.

Earlier this week the founder of Ethereum Vitalik Buterin said centralized cryptocurrency exchanges should «burn in hell as long as possible». However, it is clear that decentralized platforms by default are not immune from vulnerabilities and security breaches.

Token Bancor (BNT) lost 16% from approximately $3.15 early in the day to $2.40 at the time of publication of the article.

The last major hack in the industry was the theft
cryptocurrency $32 million from the stock exchange Bithumb last month. However, after only 9 days after the incident, the site said that she was able to return the coin with $14 million thanks to the cooperation with other trading platforms.

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