Around 7000 bitcoins worth £31 million are stolen by the hackers by using virus, malware and performing other security attacks in the world’s biggest crypto currency trading company, Binance.
They stole 2% of bitcoins that the company is holding. The deposits and withdrawals will be suspended for a week during which the review will take place. In a single transaction, the hacker has stole this whopping amount
The theft was carried out using various methods like phishing, virus and other security vulnerabilities. The Chief Executive of the company, Changpang Zhao stated that 2% of the bitcoins were lost.
This is a Japan based company that is run under the leadership of Zhao is carried out full-fledged investigation on the security attack to dig out the details.
The hackers were able to get access to huge amount of money by using 2FA codes, API keys and other valuable information.
They are trying hard to find out the methods that were used by the hackers to steal the money from the company. There may be few other accounts that may have affected, but are yet to figure out those.
The company informed the stakeholders that it would take around a week to restore the operations until then the withdrawals and deposits would be totally suspended and the trading would be done as usual.
The hackers have hatched the actions using independent accounts and were patiently waiting for the opportunity to steal the big amount. The transactions done by the hackers passed all kinds of security checks.
Unfortunately, the company could not stop the withdrawals before those are executed. After the withdrawal of bitcoins is done, various alarms are triggered and then we ceased all the withdrawals immediately after getting the wake up call.
The theft took a toll on the hot exchange, which is a cache of bitcoin that is connected to the Internet. They are working with the web security company to detect the breach.
It is high time for all the companies to add an extra layer of protection to their servers to keep these attacks at bay.
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