Hackers Hijacked Bancor Wallet for ~$13.5 Million in Cryptocurrency

July 10, 2018

On Monday, July 9, the wallet of decentralized platform Bancor was hacked. As a result, criminals stole 24,984 Ethereum coins (~$12 million) and $1 million in NPXS. This was reported by the company spokesmen.

The attack occurred at 0.00 GMT sharp when the wallet used by the exchange to update smart-contract was compromised. The document notes, user wallets did not suffer in the hack.

As Bancor representatives explained, along with some other crypto platforms they initiated investigation to find the stolen funds and elaborate measures to challenge their further turnover. For instance it became known that according to Konstantin Gladych, CEO of Changelly, some share of the sum was transferred to his platform.

As the report data show, criminals also tried to withdraw $10 million in Bancor’s own cryptocurrency BNT but the coins were frozen immediately due to inbuilt platform protocol.

All the news on the issue are said to be published at the official accounts in Telegram and Twitter. Currently the exchange has suspended all functioning.

Note that ICO Bancor finished in July last year and was among the largest ICOs ever that raised $153 million is just few hours.

In addition, the BNT rate fell by 12% after the incident.

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