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Industry Leading Online Cryptocurrency Exchange

Industry Leading Online Cryptocurrency Exchange

We are an online cryptocurrency exchange. Our customers include those who wish to trade cryptocurrency, as well as those looking for ICO funding and consulting. We are focused on our product, but we will be expanding in the future as well to include more products related to the Cryptocurrency Industry.

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Hackers steal $40.7 million in Bitcoin from crypto exchange Binance

  • CoinDesk

Hackers stole more than 7,000 bitcoin from crypto exchange Binance, the world’s largest by volume. Binance announced that a “large scale security breach” was discovered earlier on May 7, finding that malicious actors were able to access user API keys, two-factor authentication codes and “potentially other info.

As a result, they were able to withdraw roughly $41 million in bitcoin from the exchange. The exchange may not yet have identified all impacted accounts. And according to Binance’s statement, the breach only impacted Binance’s hot wallet, which contains roughly 2 percent of the exchange’s total bitcoin holdings.

The exchange will use its Secure Asset Fund for Users (SAFU fund) to cover the loss, which won’t impact users. The fund consists of 10 percent of all trading fees absorbed by the exchange, and was initially launched to protect Binance’s users “in extreme cases". It is stored in its own cold wallet.

Hackers steal $40.7 million in Bitcoin from crypto exchange Binance