Malta-based, Binance Exchange, which is one the largest Cryptocurrency Exchanges and brands in the crypto-sphere has been hacked for 7000 BTC or (about $40.6 Million at $5800). It impacted the Exchange’s ‘hot wallet’. Nevertheless, Exchange CEO, Changpeng Zhao, has confirmed that no users’ fund will be affected as they are insured internally by the firm.
Bithumb, one of the leading Cryptocurrency Exchanges in South Korea has experienced another hack. Bithumb reported on Saturday 30th March 2019 that while the user’s funds were safe from an outside infiltration, an ‘internal embezzlement incident’ has been suspected. Funds have reportedly been stolen from the company’s ‘hot wallet.’ On 29th March, the transaction monitoring system of the
In the greatest heist of all time, somewhere between $400 million and $534 million dollars of NEM have been stolen. On Friday afternoon, at a press conference, the stunned team of Coincheck seemed dejected with such a big loss. This has raised questions about the security practices followed by the Japanese exchange. History repeating itself: