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Hackers steal 7,000 bitcoin from Binance

IANS  |  Taiwan 

Hackers stole over 7,000 bitcoin from global cryptocurrency exchange Binance, which provides a platform for trading more than 100 cryptocurrencies.

"Hackers were able to obtain a large number of user API keys, 2FA codes... They used a variety of techniques, including phishing, viruses and other attacks. We are still concluding all possible methods used. There may also be additional affected accounts that have not been identified yet," the start-up said in a statement late on Tuesday.

The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time.

"The transaction is structured in a way that passed our existing security checks. It was unfortunate that we were not able to block this withdrawal before it was executed," Binance added.

"Once executed, the withdrawal triggered various alarms in our system. The start-up stopped all withdrawals immediately after that."

Binance said it would conduct "a thorough security review" encompassing its systems and data during the next week.

--IANS

ksc/vd

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 08 2019. 16:36 IST
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