Binance Assists in Investigation of $5 Million Attack on BtcTurk Crypto Exchange
- Binance assists in investigating $5M attack on BtcTurk, freezing stolen funds.
- Attack affected hot wallets, with majority of assets in cold wallets secure.
- Binance CEO Teng promises updates on investigation.
- Binance praised for proactive security efforts by Blockchain investigator.
- BtcTurk CEO has not commented on the incident.
- Lykke exchange halts withdrawals after $19.5M exploit, accused of hiding breach.
Summary :
Cryptocurrency exchange Binance is reportedly assisting in the investigation of a malicious attack against Turkish crypto exchange BtcTurk. Binance CEO Richard Teng stated that over $5 million in stolen funds have been frozen so far. The attack primarily affected holdings in hot wallets, which are more vulnerable to hackers compared to cold storage. BtcTurk, with over 5 million users, assured that the majority of assets held in their cold wallets remain secure. Binance has received praise for its efforts in helping the wider community during security incidents. BtcTurk's CEO has not yet commented on the matter. This incident follows a recent exploit suffered by Switzerland-based crypto exchange Lykke. BtcTurk has not responded to requests for comment at this time.
Sources :
- CoinTelegraph
