• Bancor loses $12.5M worth of Ethereum to cyber baddies in overnight raid

    7 days ago - By The Next Web

    Israeli digital asset exchange Bancor has suffered a major hack - a sizely $23.5 million - in yet another stark reminder that big industry players simply are not paying attention to their security. Initially described as a “security breach,” Bancor eventually revealed the hackers exploited a compromised wallet, inserting malicious code in certain smart contracts which “allowed the withdrawal of almost 25,000 Ethereum tokens. Funnily enough, $10 million in native Bancor coin BNT was able to be immediately frozen and recovered - Bancor ironicially lauding their ability to freeze tokens in...
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