Decentralized platform Bancor Monday morning was hacked and immediately after that, the developers turned off the platform to avoid big losses.
Bancor stated in his Twitter profile that “wallets were not compromised” and that the shutdown was a necessary step.
To complete the investigation, we pulled the platform and moved it to “technical work.” Soon we will publish a more detailed report. We look forward to the opportunity to return to work as soon as possible.
This morning (CEST) Bancor experienced a security breach. No user wallets were compromised. To complete the investigation, we have moved to maintenance and will be releasing a more detailed report shortly. We look forward to being back online as soon as possible.— Bancor (@Bancor) July 9, 2018
Nate Hindman, head of communications Bancor, said that although the team managed to block the transfer of approximately 2.5 million tokens BNT – worth $ 10 million, the company was unable to do it previously, and as a result 25.000 ETH (about 12.5 million U.S. dollars), and about 230 million tokens NPXS (about 1 million US dollars) were stolen.
Thus, the company lost approximately 13.5 million US dollars as a result of hacking.
We were able to freeze stolen BNT, minimizing damage to the ecosystem Bancor. The ability to freeze a token was built into the Protocol Bancor for use in extreme situations, such as burglary.
It is impossible to freeze ETH and other stolen tokens. But we are working with dozens of cryptocurrency exchanges and exchangers to trace the stolen funds and complicate their conversion to the kidnappers.
Here is the latest update on the recent security breach: pic.twitter.com/JroypFvBri— Bancor (@Bancor) July 9, 2018
Recall that about a year ago, Bancor has collected 153 million dollars during the ICO, and at that time it was a record amount. In addition to the services decentralized exchanger, Bancor also allows you to create a new cryptographic tokens.
According to Hindman, Bancor “has already identified the vulnerability and fix it”.
We expect that the Bancor will be back online within the next 24 hours. We will continue to post updates as necessary on our channel Telegram and Twitter.
Price on BNN Bancor, according to CoinMarketCap dropped by about 14 percent in recent days.