Back to news
SafetyHigh impact — Significance is rated automatically and is not a price signal.
Elliptic Reports Binance Hackers Converted Stolen Tokens Into $124M in Bitcoin
(4 hours ago) · 1 source · Summarized by CryptoBipto
Blockchain analytics firm Elliptic reported that hackers who breached Binance converted stolen tokens into approximately $124 million worth of bitcoin. Binance has indicated plans to gradually reopen withdrawals following the incident.
WHY IT MATTERS
When you store cryptocurrency on an exchange, you are trusting that company to keep your funds safe, similar to keeping money in a bank.
Read the full analysis with a CryptoBipto membership
Members read why every story matters and the full analysis behind it.
SOURCES
- theblock.co
RELATED
BTCExchange HackBinanceBlockchain AnalyticsFund RecoveryCustodial Risk