Hackers steal $41 million
In the latest in a series of thefts from cryptocurrency exchanges, hackers stole $41 million worth of bitcoin from Binance on Monday, creating chaos in the market. However, given how long bitcoin remains one of the most stable investments in today’s market, it seems to be a cause for concern and not as devastating as some people may think.
According to the CEO of Binance, outside hackers managed to steal a whopping 7000 BTC in USD equivalent from their exchange due to phishing and some other methods. They are handling it quite promptly and efficiently so far.
Bitcoin’s price fell as much as 4.2% in early trading in Asia, but it still managed to recover some of the losses with time when the news broke.
Last year, $950 million worth of cryptocurrencies were lost due to hacking attacks. This is a 260% increase from the previous year’s results, according to a study led by security company CiptherTrace. 58% of Japan and South Korea’s thefts last year occurred on cryptocurrency exchanges, according to the survey.
Continue reading. Gather more information on the matter. Visit Binance’s official website to learn more on the world of cryptocurrency by following the link.
Alternatively, if you liked this article, then you may also enjoy this one.
Author: PC-GR
The World of Technology
