And there are certainly a bunch of questions surrounding Bitfinex and its multiple security breaches. We recently highlighted that crypto exchange hacks are one of the biggest problems this industry needs to deal with. The Securities and Exchange Commission said it’s seeking to freeze Binance.US ’s assets and protect customer funds, including through the repatriation of client investments held abroad. Decentralized cross-chain protocol and network, Poly Network announced today. Decrypt recently reported that scammers made off with more than $1.2 billion in the first quarter of this year alone-largely due to the QuadrigaCX scandal and the Bitfinex funding gap. Over 611 million has reportedly been stolen in one of the largest cryptocurrency hacks. The Securities and Exchange Commission filed a highly anticipated lawsuit against Binance and Zhao on Monday, accusing the exchange of operating illegally and selling unregistered securities. This hack was one of the first in what has become a growing problem. The hack is the second biggest crypto hack ever, and the latest in a string of mass crypto heists in the last year totalling well over 2bn. She clarified that this was not part of the redemption process outlined in the LEO whitepaper. However, it appears that the hacker has other ideas, preferring to take what he can.īitfinex Marketing Director Anneka Dew told Hard Fork that the exchange was not involved with the movement of stolen funds in any way. Specifically, it said that it would allow the hacker to keep some of the funds, as long as he returned the rest. Now, as far-fetched as it sounds, it initially seemed like this had all gone to plan.īitfinex’s whitepaper for its LEO token-a last ditch effort to fill a $850 million funding gap-stated that it would be working with the hacker to work out a compromise. BNB is the fifth largest crypto by market cap, and the hack. According to Whale Alert, which tracks large crypto transactions and has incorporated the hacked addresses into its database, an additional 170 bitcoin ($1.3 million) has been shifted. Getty Images Key takeaways The world’s largest crypto exchange, Binance, had to suspend deposits and withdrawals due to a hack. Today, more funds were sent from these wallets to other addresses.
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