Over 7,000 Bitcoins Stolen in Latest Crypto Hacking - Forex News by FX Leaders

Over 7,000 Bitcoins Stolen in Latest Crypto Hacking

Posted Wednesday, May 8, 2019 by
Arslan Butt • 1 min read

Leading cryptocurrency exchange Binance has announced a “large scale” attack by hackers who have successfully stolen over $40 million worth of Bitcoins. So far, around two percent of the company’s Bitcoin holdings have been reported as stolen.

The company has issued a statement which says that the theft was traced back to a single wallet. Binance has suspended deposits and withdrawals until the internal investigation is over. However, its users can continue trading cryptocurrencies on its exchange in the meantime.

According to latest updates, the company is seeking the help of other exchanges to block cryptocurrency deposits from hacked addresses. BTC/USD had been trading above $6,300, but this latest hacking news has sent it slightly lower to trade around $6,097 for now.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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