In keeping with Binance CEO Richard Teng, cryptocurrency change Binance is allegedly aiding within the investigation of a malicious assault on Turkish crypto change BtcTurk.
“Binance helps BtcTurk with investigations and has frozen greater than $5.3 million in stolen funds up to now,” Teng wrote in a June 22 publish.
BtcTurk, with greater than 5 million customers based on its web site, stated the assault primarily affected holdings in scorching wallets — software-based cryptocurrency wallets related to the Web. Sizzling wallets, whereas extra environment friendly for frequent transactions, are extra susceptible to malicious hackers in comparison with non-cold storage.
“Solely a portion of the ten cryptocurrency balances in our scorching wallets have been affected by this cyberattack, whereas nearly all of belongings saved in our chilly wallets stay secure,” reads a Google translation of the June 22 model of BtcTurk’s assertion.
In the meantime, Teng advised his 299,800 X followers that Binance will present any updates as soon as its investigative crew has extra info.
“Our investigations and safety groups are working 24/7 as a part of our proactive efforts to guard the ecosystem from criminals. We are going to present additional updates as wanted,” stated Teng.
Binance receives reward as unhealthy actors proceed to assault crypto exchanges
This comes after Blockchain researcher ZackXBT praised Binance for its efforts to assist the broader group throughout safety incidents.
“The media sings the praises of Binance when in actuality their safety crew is often doing extra for victims + doing every part they will to assist with incident response,” ZachXBT stated on June 22 in an X message.
BtcTurk CEO Özgür Güneri has but to make a public X touch upon the matter.
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This comes simply days after Swiss crypto change Lykke halted withdrawals after being hit by an exploit on June 4.
Blockchain safety researcher SomaXBT accused the crew of attempting to cowl up the safety breach, saying “@lykke CTX was exploited and misplaced $19.5 million value of crypto belongings, however the crew continues to be attempting to cover this reality.”
Cointelegraph reached out to BtcTurk for remark however didn’t obtain a response on the time of publication.
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