Hackers steal $41 million worth of bitcoin from Binance cryptocurrency exchange

Using a variety of techniques, “including phishing, viruses and other attacks”

Reuters May 08, 2019
The logo of Binance is seen on their exhibition stand at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta October 4, 2018. PHOTO: REUTERS

HONG KONG: Hackers stole bitcoin worth $41 million from Binance, one of the world’s largest cryptocurrency exchanges, the company said on Wednesday, the latest in a string of thefts from cryptocurrency exchanges around the world.

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The 7,000 bitcoin were withdrawn by hackers using a variety of techniques, “including phishing, viruses and other attacks”, according to a post on Binance’s website by chief executive officer Zhao Changpeng.

The post said user funds would not be affected because the company would use its secure asset fund for users to cover the loss.

Bitcoin’s price dropped by as much as 4.2 per cent in early Asian trading as news of the hack broke, although it later recovered some of its losses.

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Zhao said on Twitter other crypto exchanges, including Coinbase, had blocked deposits from addresses linked to the hack.

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